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US election: President-elect Joe Biden unveils his economic team

CA, 02 Dec 2020
United States President-elect Joe Biden unveiled his economic team Tuesday amid growing concerns about the pace of the nation’s economic recovery.

Biden has assembled a team of liberal advisers who have long focused on the nation’s workers and government efforts to address economic inequality, as unemployment remains high and as the COVID-19 outbreak widens the gulf between average Americans and the nation’s most well off.

The event comes a day after Federal Reserve Chairman Jerome Powell said that the pace of improvement in the economy has moderated in recent months with future prospects remaining “extraordinarily uncertain.”

Janet Yellen, announced Monday as Biden’s nominee for treasury secretary, served as chair of the Federal Reserve from 2014 to 2018, when she placed a greater emphasis than previous Fed chairs on maximizing employment and less focus on price inflation. Biden also named Cecilia Rouse as chair of his Council of Economic Advisers, and Heather Boushey and Jared Bernstein as members of the council.

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