After the 2020 election, Pre♏sident Joe Bide♈n named members of his economic team, including the Federal Reserve Chair and the Secretary of the Treasury.

Secretary of the Treasury

The Biden administration nominated former Federal Reserve Chairwoman 澳洲幸运5官方开奖结果体彩网:Janet Yellen as Secretary of the Treasury, a leading role in shaping economic policy. Yellen’s deputy at the Treasury Department was 澳洲幸运5官方开奖结果体彩网:Adewale "Wally" Adeyemo, a veteran of the Obama admini🐎stration and an expert on macroeconomic policy and consumer protection with national security experi♛ence.

Director of the Office of Management and Budget

The Office of Management and Budget (OMB) helps the president develop and administer the federal budget. Biden originally chose Neera Tanden, head of the think tank Center for American Progress. Biden's nomination was subsequently withdrawn when Tanden failed to gain support. On November 24, 2021, Biden nominated 澳洲幸运5官方开奖结果体彩网:Shalanda Young as director, who was confirmed on March 15, 2022.

Chair of the Council of Economic Advisers

Biden chose 澳洲幸运5官方开奖结果体彩网:Cecilia Rouse, a Princeton University labor economist, to chair the 澳洲幸运5官方开奖结果体彩网:Council of Economic Advisers, a role Yellen had occupied during Clinton's administration. Rouse had previously been confirmed by the Senate as a member of the CEA in 2009. She was confirmed as chair on March 2, 2021.

Rouse was joined on the CEA by two campaign economic advisers, Jared Bernstein and Heather Boushey. Bernstein previously served as the chief economist to Biden in the first years of the Obama administration. Boushey was an economist focused on economic inequality and the CEO of the Washington Center for Equitable Growth. In 2023, Rouse stepped down from the role, and Biden nominated Bernstein as CEA chair.

Secretary of Commerce

Biden nominated 澳洲幸运5官方开奖结果体彩网:Gina Raimondo as Secretary of Commerce. Raimondo was 🍒confirmed by the Se✤nate on March 2, 2021. She previously served as the governor of Rhode Island.

Secretary of Labor

Biden tapped Marty Walsh, a former mayor of Boston, to serve as labor secretary. As the leader of the Department of Labor, Walsh oversaw issues related to federal labor standards, including wages, workplace safety, unemployment benefits, and workplace conditions. Walsh stepped down from the role in 2023. Julie Su, an attorney and former labor secretary of California, stepped in to serve as acting labor secretary.

Trade Representative

In December 2020, Biden chose 澳洲幸运5官方开奖结果体彩网:Katherine Tai to serve as U.S. Trade Representative, advising and negotiating trade policy. Tai previously served as chief trade counsel and trade subcommittee staff director for the Ways and Means Committee of the House of Representatives. The Senate confirmed Tai in March 2021.

Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau (CFPB) is a unit within the Federal Reserve system. In January 2021, Biden announced 澳洲幸运5官方开奖结果体彩网:Rohit Chopra as director. Chopra had served as a commissioner of the Federal Trade Commission and as a student loan ombudsman at the CFPB.

Federal Trade Commission

The Federal Trade Commission (FTC) oversees antitrust law and consumer protections. In March 2021, President Biden nominated 澳洲幸运5官方开奖结果体彩网:Lina Khan as chair. Khan was confirmed and sworn into the role in June of that year. She was previously an associate professor at Columbia Law School.

Chair of the Federal Reserve

The 澳洲幸运5官方开奖结果体彩网:Federal Reserve is an agency that operates independently of the federal government. Its governors are appointed by the president and confirmed by the Senate but its monetary൲ decisions are not subject to approval. The chair and vice-chair of the Fed are nominated by the president and confirmed by the Senate.

Jerome Powell was first nominated to the role by former President Donald Trump in November 2017 and re-nominated for a second term by President Biden in November 2021. Powell worked as assistant secretary and undersecretary of the Treasury under former President George H.W. Bush.

The Bottom Line

Incoming presidents announce members of his economic team soon after winning the presidential election. The Senate must appro𝔉ve n♎ominees before they join the administration.