Biden Taps Wally Adeyemo for Deputy Secretary of the Treasury Department

President-elect Joe Biden says his economic team is "first rate" and will help build an economy that works for all Americans.

Biden introduced key members of the team Tuesday in Delaware, including former Federal Reserve chair Janet Yellen to become Treasury secretary. Biden described Yellen as one of the "most important economic thinkers of our time."

She would be the first female Treasury secretary if confirmed by the Senate.

Biden also introduced Neera Tanden as his choice to run the White House budget office. Tanden's nomination, however, has encountered early disapproval from some Senate Republicans, who will vote on her nomination.

Biden also named his chair and members of the Council of Economic Advisers. He says the CEA chair will serve in the Cabinet. Biden also named a deputy for Yellen.

Biden unveiled his economic team amid growing concerns about the pace of the nation's economic recovery as governments reimpose restrictions to curtail the surging coronavirus pandemic.

Biden has assembled a team of liberal advisers who have long focused on the nation's workers and government efforts to address economic inequality, as unemployment remains high and as the COVID-19 outbreak widens the gulf between average Americans and the nation's most well off.

The virus, which has killed more than 268,000 Americans, is resurgent across the country amid holiday travel and colder weather sending people indoors.

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