Biden unveils economic team at critical moment for recovery

 President-elect Joe Biden is set to unveil his ecomic team Tuesday amid growing concerns about pace of nation's ecomic recovery as governments reimpose restrictions to curtail surging coronavirus pandemic.

Biden has assembled a team of liberal visers who have long focused on nation’s workers and government efforts to dress ecomic inequality, as unemployment remains high and as COVID-19 outbreak widens gulf between aver Americans and nation's most well off. virus, which has killed more than 268,000 Americans, is resurgent across country amid holiday travel and colder wear sending people indoors.

Janet Yellen, anunced Monday as Biden’s minee for treasury secretary, served as chair of Federal Reserve from 2014 to 2018, when she placed a greater emphasis than previous Fed chairs on maximizing employment and less focus on price inflation. Biden also named Cecilia Rouse as chair of his Council of Ecomic visers, and Hear Boushey and Jared Bernstein as members of council.

All are outspoken supporters of more government stimulus spending to boost growth — which Biden embraced on campaign trail — though ir proposals could face a difficult reception in Congress, which has stalemated on a new round of ecomic relief for months w.

prospects for a large-scale deal could hang on outcome of ruff elections for both Georgia Senate seats . Victories in both would give Democrats control of chamber — and its nda —- by slimmest of margins, but Republican victories will quickly test Biden and his team's ability to negotiate across aisle to deliver on ir promised relief for Americans.

event comes a day after Federal Reserve Chairman Jerome Powell said that pace of improvement in ecomy has moderated in recent months with future prospects remaining “extraordinarily uncertain.”

In remarks released by Fed on Monday, Powell said that increase in new COVID-19 cases both in United States and abro was “concerning and could prove challenging for next few months. A full ecomic recovery is unlikely until people are confident that it is safe to reeng in a bro range of activities.”

It also comes as Steven Mnuchin, President Donald Trump's treasury secretary, anunced last month that over objections of Fed that he would t grant extensions for five lending programs being operated jointly by Fed and Treasury Department that are scheduled to expire on Dec. 31, including backstops for corporate and municipal debt and purchase of loans for small businesses and nprofits.

Yellen, if confirmed by Senate, would be first woman to serve as treasury secretary, after breaking ground as first woman to chair Fed. Rouse would be first Black woman to le CEA in its 74 years of existence. And Neera Tanden, Biden’s pick for director of Office of Manment and Budget, would be first South Asian American in that job.

Biden also selected Wally eyemo to be Yellen’s deputy, which would make him first Black deputy treasury secretary. Rouse, Tanden and eyemo will all require Senate confirmation, and Tanden in particular is alrey drawing heavy Republican criticism.

Some Republicans panned anuncement of Tanden after she spent years attacking GOP lawmakers on social media — and some doubted she would be able to secure confirmation.