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Biden announces senior economic team and plans to nominate Janet Yellen

WILMINGTON (AP) — President-elect Joe Biden on Monday announced his senior economic team, including his plans to nominate the first woman to head the Treasury Department as well as a slew of liberal economists and policy specialists who established their credentials during the previous two Democratic administrations.

In a statement, Biden said he would nominate Janet Yellen, the former Federal Reserve chair, to lead the Treasury Department, and former Clinton and Obama adviser Neera Tanden to serve as director of the Office of Management and Budget. He also named Wally Adeyemo, a former Obama administration official and the first CEO of the former president’s nonprofit foundation, as his nominee for Deputy Treasury Secretary, He also unveiled his White House economic team, consisting of economists Cecilia Rouse, Jared Bernstein and Heather Boushey.

WATCH: Janet Yellen on this ‘devastating’ economic crisis and the government’s response

Biden, who has placed a premium on diversity in his selection of Cabinet nominees and key advisers, is looking to notch at least a few firsts with his economic team selections. Yellen would be the first woman to lead the Treasury Department and Adeyemo the first Black deputy secretary. Tanden would be the first woman of color to lead OMB and Rouse the first woman of color to chair the Council of Economic Advisers.

“As we get to work to control the virus, this is the team that will deliver immediate economic relief for the American people during this economic crisis and help us build our economy back better than ever,” Biden said in a statement.