Biden to introduce top economic advisers as pandemic threat worsens
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[December 01, 2020]
By Jarrett Renshaw and Joseph Ax
WILMINGTON, Del. (Reuters) - U.S.
President-elect Joe Biden will formally introduce his top economic
policy advisers on Tuesday as his administration prepares to take power
amid a slowing economic recovery hampered by the resurgent coronavirus
pandemic.
Biden will appear at an event in his hometown of Wilmington, Delaware,
alongside his selections for senior roles, including his nominee for
U.S. Treasury secretary, former Federal Reserve Chair Janet Yellen.
The team's makeup reinforces Biden's view that a more aggressive
approach to the pandemic is required. The advisers have all expressed
support for government stimulus to maximize employment, reduce economic
inequality and help women and minorities, who have been
disproportionately hurt by the economic downturn.
Other picks include Cecilia Rouse, an economist at Princeton University,
as chair of the Council of Economic Advisers; economists Heather Boushey
and Jared Bernstein as council members; and Neera Tanden, chief
executive of the liberal Center for American Progress think tank, as
head of the Office of Management and Budget.
The transition to a Biden administration has proceeded despite
Republican President Donald Trump's false claims that he lost the
election as a result of voter fraud. On Monday, Biden received his first
full classified intelligence briefing since winning the Nov. 3 election,
after Trump's refusal to concede delayed the formal transition process
for weeks.
Arizona and Wisconsin, two battleground states where Trump has pursued
fruitless efforts to overturn the results, each certified Biden's
victory on Monday.
The certification of vote totals is typically a formality, but the
process took on added significance amid Trump's baseless allegations.
Trump has pursued a series of legal challenges in numerous states,
although none has thus far resulted in any meaningful gains for the
president. Most of the lawsuits have been rejected by judges, who have
expressed skepticism about the claim that the election results are
illegitimate.
The Electoral College, which selects the presidential winner based on
state-by-state results, is scheduled to meet on Dec. 14. Biden, the
Democratic former vice president, will take office on Jan. 20.
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President-elect Joe Biden delivers a pre-Thanksgiving speech at his
transition headquarters in Wilmington, Delaware, U.S., November 25,
2020. REUTERS/Joshua Roberts
FIRSTS FOR WOMEN
Biden's latest nominations would place several women in top economic
roles, reflecting his commitment to increasing diversity at the
highest levels of the federal government.
Rouse would be the first Black woman to lead the Council of Economic
Advisers, which advises the president on economic policy; Tanden
would be the first woman of color to run the OMB; and Yellen would
be the first female Treasury secretary.
All three would require Senate confirmation. Several Republicans,
who currently hold a narrow majority in the chmaber, expressed
immediate opposition to Tanden, a divisive figure who has detractors
both on the right and the left.
Control of the Senate will be decided in a pair of runoff elections
in Georgia on Jan. 5.
Several aid programs aimed at combating the pandemic's economic
damage, such as expanded unemployment benefits, are set to expire
this month, and a new stimulus bill has been trapped in political
limbo for months with Republicans and Democrats at odds over the
size of the spending package.
The coronavirus pandemic has killed more than 267,000 people in the
United States, with nationwide cases and hospitalizations reaching
record highs in recent weeks.
(Reporting by Jarrett Renshaw in Wilmington, Delaware, and Joseph Ax
in Princeton, New Jersey; Additional reporting by Jonnelle Marte in
Washington; Editing by Peter Cooney)
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