Reuters
Published Mar 02, 2021 06:14PM ET
Updated Mar 02, 2021 08:05PM ET
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."
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.