Democrat  Joe Biden intends to nominate Center for American Progress president and CEO Neera Tanden as director of the Office of Management and Budget, The Wall Street Journal reported on Sunday.

Tanden is part of a diverse group of economic advisers Biden intends to nominate to serve alongside Treasury Secretary nominee Janet Yellen, including Princeton University labor economist Cecilia Rouse to be chair of the Council of Economic Advisers (CEA).

In addition, Biden intends to pick Adewale Adeyemo, a former senior international economic adviser during the Obama administration, to be Yellen’s top deputy at the Treasury Department, as well as campaign economic advisers Jared Bernstein and Heather Boushey to become members of the CEA.

Biden is expected to introduce his key economic choices on Tuesday, with sources saying his picks are meant to serve as an experienced team that would help his administration move rapidly to implement his “build back better” agenda that seeks to spur job growth and lessen economic inequality.

A Biden administration would be expected to face great economic challenges as job growth has slowed considerably after an intital bouceback during the summer from the coronavirus-inspired layoffs.

One of the most crucial decisions would be how much the federal government should borrow and spend in order to combat the pandemic.

© 2020 Newsmax. All rights reserved.

Source link