(NBC) President-elect Joe Biden has announced key members of his economic team as the incoming administration transition moves forward.
Chief among the economic nominees, former Federal Reserve Chairwoman Janet Yellen has been tapped to lead the Treasury Department.
If confirmed, Yellen will be the first woman to serve as treasury secretary in its more than 200-year history.
Biden has also nominated Neera Tanden to serve as Director of the Office of Management and Budget. If confirmed, Tanden will be the first woman of color to lead that department.
Following the announcements, Yellen tweeted, “We face great economic challenges as a country right now,” and “to recover we must restore the American dream.”
No word yet on who will serve as director of the National Economic Council, currently held by Larry Kudlow.
Biden is scheduled to formally announce his economic team, alongside them, on Tuesday in Wilmington, Delaware.
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