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Biden set to announce his economic team led by Janet Yellen, who face a dark winter outlook, split Congress

Added 12-01-20 01:04:02pm EST - “President-elect Joe Biden is set to announce his economic team Tuesday. What proposals can they push through a split Congress?” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Biden set to announce his economic team led by Janet Yellen, who face a dark winter outlook, split Congress”. Below is an excerpt from the article.

President-elect Joe Biden is set to unveil an all-star economic team Tuesday to tackle a darkening winter outlook as the USA struggles to dig out of the worst recession in a century.

Analysts expect stiff resistance from a split Congress whose Republicans are reluctant to further swell the massive deficit.

At the forefront of Biden's team is former Federal Reserve Chair Janet Yellen, his pick for Treasury secretary. Other appointees include Neera Tanden, a former aide to Hillary Clinton and chief executive of the left-leaning think tank Center for American Progress, to head the Office of Management and Budget. Cecilia Rouse, dean of the Princeton School of Public and International Affairs, has been tapped to lead the Council of Economic Advisers.

Biden deftly chose veteran Washington officials and policymakers left-of-center but not in the "progressive" camp led by Democratic Sens. Bernie Sanders and Elizabeth Warren, says Brian Gardner, chief Washington policy analyst at Stifel.

In contrast to top economic officials in the Trump administration, Biden’s economic team “doesn’t look very corporate, does it?” says Alan Blinder, a Princeton University economist who served with Yellen on the Fed’s board in the 1990s.

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