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Biden is expected to formally name key members of his economic team today

President-elect Joe Biden holds a news conference in Wilmington, Delaware, on November 24. Mark Makela/Getty Images

President-elect Joe Biden is set to formally name key members of his economic team on Monday, with the long-expected announcement of Janet Yellen as Treasury Secretary, CNN has learned, along with two other women in top roles on a diverse team that will help him navigate the nation’s punishing fiscal headwinds in hopes of building an economic recovery.

He is expected to name Neera Tanden to lead the Office of Management and Budget, two people familiar with the appointment said, elevating Tanden, the CEO and president of the left-leaning Center for American Progress, into the top ranks of his administration.

He’s poised to name Cecilia Rouse, a Princeton economist, to lead the Council of Economic Advisers, which would put another Black woman in a high-profile role of Biden’s top advisers. Rouse served on the council during the Obama administration.

Among the barrier-breaking nominees Biden is announcing is Adewale “Wally” Adeyemo, president of the Obama Foundation in Chicago, for deputy Treasury Secretary, serving under Yellen. If confirmed, he would be the first Black deputy Treasury Secretary. Yellen, if confirmed, would be the first woman to serve as Treasury Secretary.

Adeyemo served on the National Economic Council of the Obama administration and last fall was named as the first president of the Obama Foundation.

The Wall Street Journal first reported on Biden’s expected economic picks.

The announcements are expected to be made Monday in a statement, officials said, with the team set to be formally introduced by Biden during an event Tuesday at his transition headquarters in Wilmington, Delaware.

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