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Biden appoints new advisers to White House economics team | Business and Economy News

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US President-elect Joe Biden has appointed three new economic advisers, two of whom have deep progressive ties.

Through Bloomberg

President-elect Joe Biden on Monday added three new economic advisers to his White House squad, two of whom have deep progressive ties.

Biden has said he will appoint David Kamin, a former economics official in the Obama administration, as deputy director of the NEC. Bharat Ramamurti, former assistant to Senator Elizabeth Warren, will be the NEC’s deputy director for financial reform and consumer protection. Biden has also appointed Joelle Gamble as the president’s special assistant for economic policy.

Ramamurti and Gamble both have ties to the Roosevelt Institute, a progressive economic think tank. Ramamurti, Warren’s financial regulatory contact, was considered a candidate for a position with the Securities and Exchange Commission.

“Working families are living through the deepest and most inequitable economic and employment crisis in modern history. Now is not the time to rebuild like before – now is the time to build a new US economy that works for everyone, ”Biden said in a statement.

“With their solid experience and qualifications, they will provide the necessary voices to guide my administration to overcome the unprecedented economic challenges of our country,” he said.

Ramamurti is currently a commissioner on the Congressional Oversight Committee established to oversee the $ 500 billion economic stabilization fund created by the Cares Act, through which the Treasury Department has provided direct loans to businesses and launched several emergency loans with the Federal Reserve.

He criticized Treasury Secretary Steven Mnuchin’s direct loans and his work with the Federal Reserve, particularly the closure of the Fed facilities established by the Cares Act.

The new officials will join Brian Deese, Biden’s new NEC director, to work on implementing Biden’s economic agenda and efforts to rebuild the economy amid a worsening pandemic that has left millions of people unemployed.

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