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Nov. 30, 2020, 10:56 a.m. EST

Biden officially unveils his economic team with Yellen for Treasury, Tanden at OMB

By Robert Schroeder

President-elect Joe Biden on Monday officially announced his economic team, with former Federal Reserve Chairwoman Janet Yellen chosen to head the Treasury Department and Neera Tanden picked to lead the White House’s budget office.

See: Yellen, pushed aside by Trump, returns to center stage of economic policy

Yellen’s nomination isn’t expected to encounter resistance in the Senate. Meanwhile, the choice of Tanden, who heads the left-leaning Center for American Progress, is already drawing criticism from right and left . A spokesperson for Sen. John Cornyn, a Texas Republican, said Tanden had “zero chance of being confirmed.”

The other choices announced by the Biden-Harris transition are:

Wally Adeyemo for deputy secretary of the Treasury; Cecilia Rouse as chair of the Council of Economic Advisers; and Jared Bernstein and Heather Boushey as members of the Council of Economic Advisers.

Biden and Vice President-elect Kamala Harris are planning to introduce members of the economic team at an event on Tuesday afternoon, Biden’s transition team said.

Yellen said in a tweet that she’d work every day to restore the American dream.

Now read: ‘A win for the establishment and a loss for progressives’: Analysts react to Yellen as Biden’s pick for Treasury secretary .

Link to MarketWatch's Slice.