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He is expected to appoint Neera Tanden as head of the Bureau of Management and Budget, said two people close to the appointment, elevating Tanden, CEO and chairman of the left-wing Center for American Progress, to the upper echelons of its administration.
He’s also set to appoint Cecilia Rouse, an economist from Princeton, to head the Council of Economic Advisers. Rouse served on the board during the Obama administration, but her selection places another black woman in a prominent role among Biden’s top advisers.
Adewale “Wally” Adeyemo, chairman of the Obama Foundation in Chicago, will be appointed Assistant Secretary of the Treasury, under Yellen’s leadership. Both face confirmation from the Senate. Adeyemo served on the Obama administration’s National Economic Council and last fall was named the first president of the Obama Foundation.
He is one of the nominees that Biden announces. If confirmed, he would be the first deputy secretary of the Black Treasury. Yellen, if confirmed, would be the first woman to serve as Secretary of the Treasury.
The announcements are expected to be made in a statement Monday, officials said, with the team to be formally introduced by Biden at an event Tuesday at his transition headquarters in Wilmington, Delaware.
The economics team is among the most critical parts of the new administration, whose successes or failures will play a significant role in determining the course of the Biden presidency.
Biden is also expected to appoint the head of the National Economic Council, officials said, along with the U.S. trade representative, the Consumer Financial Protection Bureau and other positions.
It’s unclear whether Biden will nominate his candidate for trade secretary this week, officials said, and the timing of other key economic positions could also be shifted based on final decisions and last-minute adjustments.
Several people close to the transition tell CNN that this is a rundown of the top candidates for other key roles on the economics team:
Brian Deese, a former top economic adviser to the Obama-Biden administration, is among the top contenders for the National Economic Council, officials said. He served as Deputy Director of OMB and NEC and is now a senior official at BlackRock, the world’s largest asset manager.
Roger Ferguson Jr., who was vice chairman of the Federal Reserve, is also considered a top candidate for the National Economic Council, officials said, but could also be appointed to another top economic post.
Katherine Tai is among the top contenders for the post of U.S. trade representative, officials said, a critical stance as the Biden administration moves beyond Trump-era trade policies. Tai is the senior Democratic trade adviser on the House Ways and Means Committee and oversaw trade enforcement for China under the Obama administration. She also played a key role in negotiating Democrats’ trade policy under the United States-Mexico-Canada deal.
The list of candidates for various economic posts in the West Wing also includes Jared Bernstein, longtime economic adviser to Biden, as well as Gene Sperling, a veteran of the Clinton and Obama administrations, and Ben Harris, who also worked in the Obama administration. .
Several other candidates have also risen to the top for high-profile economic jobs, officials said, including Heather Boushey, who was one of Biden’s top economic policy advisers during the campaign, and Lisa Cook, an economist at Biden. the state of Michigan who also worked in the Obama administration.
Austan Goolsbee, who served as chairman of the Council of Economic Advisers during the second term of the Obama administration, has also been mentioned for high-level positions in the Biden White House. But Goolsbee ruled out the possibility on Sunday, telling CNN’s Manu Raju: “I have no plans to go into administration.”
This story has been updated with additional reports.
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