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Biden taps Yellen for Treasury, announces other members of economic team

FILE PHOTO: U.S. outgoing Federal Reserve Chair Janet Yellen holds a news conference after a two-day Federal Open Market Committee (FOMC) meeting in Washington, U.S. December 13, 2017. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) - U.S. President-elect Joe Biden will nominate former Federal Reserve chair Janet Yellen to be his treasury secretary and announced other members of his economic team on Monday, the Biden transition team said in a statement.

The Democrat’s picks include Wally Adeyemo as deputy treasury secretary, Neera Tanden as director of the Office of Management and Budget and Cecilia Rouse to lead the Council of Economic Advisers, the transition team said.

Reporting by Doina Chiacu; Editing by Chizu Nomiyama

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