Economy5 hours ago (Mar 02, 2021 08:05PM ET)
© Reuters. FILE PHOTO: U.S. President-elect Joe Biden announces members of his economic policy team in Wilmington, Delaware
By Andrea Shalal
WASHINGTON (Reuters) – A majority of the U.S. Senate on Tuesday voted to confirm Cecilia Rouse as chair of the White House Council of Economic Advisers, making her the first Black economist to serve in the post.
Rouse was confirmed in an overwhelmingly bipartisan vote of 95-4, with one senator not voting.
Rouse, 57, a labor economist and former dean of the Princeton School of Public and International Affairs, has pledged to work for a more equitable and just economy that serves all the people after years of widening gaps and disparities.
She will join other powerful women in top economic posts across the Biden administration, including Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo, who was also confirmed on Tuesday.
Rouse served on the council in the Obama administration from 2009 to 2011, the worst years of the previous economic crisis. She also served in a Clinton White House economic policy post.
During her confirmation hearing in January, Rouse said more spending was needed to support the U.S. economy and keep it growing and avoid a “downward spiral” in the country’s ability to service its debt.
“One of my priorities as chair will be to try to understand how policies will impact all those in our country as we strive to ensure the economy works for everyone,” she told the Senate Banking Committee at the time.
“Far too many have slipped through our frayed safety net into hardship and hopelessness,” Rouse said. “And structural inequities that have always existed within our economy have not just been exposed, but exacerbated, their impact more devastating than ever before.”
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.