Sources tell FOX Business’ Charlie Gasparino that Joe Biden picked Janet Yellen because he needs her ties to lawmakers to push for his fiscal policy agenda.
President-elect Joe Biden on Monday formally announced former Federal Reserve Chair Janet Yellen as his pick for Treasury secretary.
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If confirmed, she would make history as the first woman to hold the role, and she is a familiar face to the financial markets and welcomed by progressives. Yellen also served as head of the Council of Economic Advisors under President Clinton.
JANET YELLEN NAMED BIDEN’S TREASURY SECRETARY, MAY MAKE HISTORY AGAIN
Biden also said he intends to pick Democratic political consultant Neera Tanden as director of the Office of Management and Budget. Tanden is the president of the liberal think tank Center for American Progress.
In this Monday, Nov. 10, 2014, file photo, Neera Tanden, president of Center for American Progress, speaks during an introduction for New Start New Jersey at NJIT in Newark, N.J. (AP Photo/Mel Evans, File)
“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. “This team is comprised of respected and tested groundbreaking public servants who will help the communities hardest hit by COVID-19 and address the structural inequities in our economy.”
Progressives, including Sen. Bernie Sanders’ former speechwriter David Sirota, were quick to criticize Tanden, a close ally of Hillary Clinton’s.
Tanden “has spent the last 4 years vilifying progressives,” Sirota wrote on Twitter on Monday.
Republicans aren’t likely to support Tanden’s confirmation, either.
“Neera Tanden, who has an endless stream of disparaging comments about the Republican Senators’ whose votes she’ll need, stands zero chance of being confirmed,” Drew Brandewie, spokesman for Sen. John Cornyn, R-Texas, wrote on Twitter on Monday.
The Biden transition team touted the diversity of the president-elect’s economic picks, noting that Yellen will be the first woman to lead the Treasury Department and Tanden will be the first woman of color to lead the Office of Management and Budget.
“These choices reflect the president-elect’s commitment to building an administration that looks like America, drawing on the diverse backgrounds and lived experiences of some of our nation’s foremost economic experts,” the Biden team said in a statement.
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In addition to Yellen and Tanden, Biden’s team also announced its selection of:
–Wally Adeyemo for deputy secretary of the Treasury
–Cecilia Rouse for chair of the Council of Economic Advisers
–Jared Bernstein as a member of the Council of Economic Advisers
–Heather Boushey as a member of the Council of Economic Advisers
FOX Business’ Suzanne O’Halloran contributed to this report.
