Janet Yellen will become the Secretary of Treasury, if confirmed, and Neera Tanden would become the Director of the Office of Management and Budget, according to a release from the transition. Yellen, if confirmed, would be the first woman to serve as Treasury Secretary.
They also announced Adewale "Wally" Adeyemo as deputy secretary of the Treasury, Cecilia Rouse for Chair of the Council of Economic Advisers and Jared Bernstein and Heather Boushey to become members of the Council of Economic Advisers. If confirmed, Adeyemo would be the first Black deputy Treasury Secretary.
This release confirms CNN's reporting that Biden would tap Yellen for the Treasury position and Adeyemo for the number two spot.
“This team is comprised of respected and tested groundbreaking public servants who will help the communities hardest hit by COVID-19 and address the structural inequities in our economy,” a statement from Biden included in the release said.