Biden names the economic team this week, with three women in key roles in helping the economic recovery

He is expected to appoint Neera Tanden as head of the Office of Administration and Budget, said the two people familiar with the appointment, and has elevated Tandent, CEO and president of the Center for American Progress on the left, to the top of his administration.

He is preparing to appoint Cecilia Rouse, an economist at Princeton, to head the Council of Economic Advisers. Rouse served on the council during Obama’s reign, but because of his election, another black woman was placed in a prominent position in Biden’s top advisers.

Adewale “Wally” Adeyemo, president of the Obama Foundation in Chicago, is appointed deputy finance minister under Yellen. Both face strengthening the Senate. Adeyemo served on the Obama administration’s National Economic Council and was named the first president of the Obama Foundation last fall.

He is one of the candidates breaking the barrier, which Biden has announced. If confirmed, he will be the first black deputy finance minister. Yellen, if confirmed, will be the first woman to serve as finance minister.

The Wall Street Journal first reported on Biden’s expected economic selection.
Janet Yellen, chairman of the Federal Reserve Board, will sit on Capitol Hill in Washington on September 28, 2016, before a hearing with the House Financial Services Committee.  (AP photo / Pablo Martinez Monsivais)

The announcements are expected to be made in a statement on Monday, officials say, with Biden officially presenting the team during an event on Tuesday at the Wilmington transition center in Delaware.

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The economic team is one of the most critical pieces of the new administration, whose successes or failures play a major role in determining the course of the Biden presidency.

Biden still wants to nominate the head of the National Economic Council, officials said, as well as the U.S. trade representative, the Office of Consumer Financial Protection and other positions.

It is unclear whether Biden will appoint his trade secretary this week, officials say, and may also shift the timing of other key economic positions based on final decisions and last-minute adjustments.

People close to the transition tell CNN that this insight is among the competitors leading to other key roles in the economic team:

Brian Deese, a former senior economic adviser to the Obama-Biden administration, is among the leading candidates to head the International Economic Council, officials said. He was deputy director of OMB and NEC and is currently a senior executive at the world’s largest asset manager, BlackRock.

Roger Ferguson Jr., who served as vice president of the Federal Reserve, could also be considered a senior contender for the National Economic Council, officials said, but could also be appointed to other economic leadership positions.

Katherine Tai is among one of the leading contenders to serve as the U.S. trade representative, officials say, is in a critical position as the Biden government goes beyond Trump-era trade policy. Tai is the chief democratic trade adviser to the House Ways and Means Committee and oversaw China’s trade implementation under Obama’s rule. It also played a key role in negotiating Democrats’ trade policies in the US – Mexico Canada agreement.

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Inside the West Wing, the list of candidates for various economic positions includes Jared Bernstein, Biden’s long-term economic adviser, and Gene Sperling, a Clinton and Obama administration veteran, and Ben Harris, who also worked in the Obama administration. .

Several other candidates have reached the summit for senior economic jobs, officials said, including Heather Boushey, one of Biden’s chief economic policy advisers during the campaign, and Lisa Cook, a Michigan state economist who is also the Obama administration.

Austan Goolsbee, who was chairman of the Council of Economic Advisers in the second term of the Obama administration, was also mentioned in senior positions at the White House in Biden. But Goolsbee dismissed that opportunity on Sunday and told CNN Manu Raju, “I don’t plan on going into the administration.”

This story has been updated with additional reports.