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Janet Yellen: (18:15)
Thank you, Mr president elect and Madam vice president elect. It’s my great honor to have this opportunity to serve you and the American people and to join this incredible economic team at this moment of great challenge for our country. Mr President elect, when you reflect on what your father taught you about how a job is much more than a paycheck I hear my own father who raised our family in working class Brooklyn. When he graduated from medical school, during the great depression, he looked for a home in a place to hang his shingle near the Brooklyn docks. Back then Bush terminal on the upper New York Bay was a thriving hub for manufacturing and transportation and for the union workers whose livelihoods depended on them. Knowing they didn’t have cars, my father found a home near a bus line. He started his family practice in the basement. While we lived on the floors above.
(19:27)
At the end of the day, he would talk to me, my brother and my mom about what work meant to his patients, our friends and neighbors, especially if they lost a job. The financial problems, the family problems, the health problems, the loss of dignity and self-worth. The value of work always stuck with me. So much so that I became an economist because I was concerned about the toll of unemployment on people, families, and communities. And I’ve spent my career trying to make sure people can work and achieve the dignity and self-worth that comes with it. Mr President elect, I know you’ve done the same. I saw it that understanding during the last great recession and the recovery act that followed and now we’re facing historic crises again.
(20:31)
The pandemic and economic fallout fit together have caused so much damage for so many and have had a disproportionate impact on the most vulnerable among us. Lost lives, lost jobs, small businesses struggling to stay alive or closed for good. So many people struggling to put on the table and pay bills and rent. It’s an American tragedy and it’s essential that we move with urgency. Inaction will produce a self-reinforcing downturn causing yet more devastation. And we risk missing the obligation to address deeper structural problems, inequality, stagnant wages, especially for workers who lack a college education. Communities that have seen industry disappear with no good jobs replacing lost ones. Racial disparities in pay, job opportunities, housing, food security, and small business lending that deny wealth building to communities of color. Gender disparities that keep women out of the workforce and keep our economy from running at full force. It’s a convergence of tragedies that is not only economically unsustainable, but one that betrays our commitment to giving every American an equal chance to get ahead. But I know this team will never give up that commitment.
(22:18)
As you’ve said before, Mr president elect, out of our collective pain as a nation, we will find collective purpose to control the pandemic and build our economy back better than before. To rebuild our infrastructure and create better jobs, to invest in our workforce, to advance racial equity and make sure that the economic recovery includes everyone. To address the climate crisis with American ingenuity and American jobs. Working together with the outstanding national security and foreign policy team you announced last week to help restore America’s global leadership. And above all, we share your belief in the American dream. Of a society, where each person, with effort, can rise to their potential and dream even bigger for their children. I pledge as treasury secretary to work every day towards rebuilding that dream for all Americans. And to the great public servants of the treasury department I look forward to working with you and Wally to rebuild the public trust. To the American people we will be an institution that wakes up every morning, thinking about you, your jobs, your paychecks, your struggles, your hopes, your dignity, and your limitless potential. Thank you.Thank you.
Neera Tanden: (24:24)
Mr. President-elect, Madam Vice President-elect, I’m humbled and honored by the trust you’ve placed in me to work with this talented team on behalf of the American people.
(24:36)
I’m especially proud to work alongside leaders who understand that budgets are not abstractions. They are a reflection of our values. They touch our lives in profound ways, and sometimes they make all the difference. Like the vice president-elect’s mother Shyamala, my mother Maya was born in India. Like so many millions across every generation, she came to America to pursue a better life.
(25:09)
I was raised in a suburb of Boston. A middle-class kid. But when I was five, my parents got divorced and my mom was left on her own with two young children and without a job. She faced a choice. Return to India, where at a time, divorce was stigmatized and the opportunities for her and her children would be limited. Or, keep fighting for her American dream.
(25:39)
She stayed. And America came through for her when times were tough. We relied on food stamps to eat. We relied on Section 8 housing vouchers to pay the rent. We relied on the social safety net to get back on our feet. This country gave her a fair shot to reach the middle-class and she made it work. She got a job as a travel agent and before long, she was able to buy us our own home in Bedford, Massachusetts, and eventually see her children off to college and beyond.
(26:17)
I’m here today, thanks to my mother’s grit, but also thanks to a country that had faith in us. That invested in her humanity and in our dreams. I’m here today because of social programs, because of budgetary choices, because of a government that saw my mother’s dignity and gave her a chance. Now it is my profound honor to help shape those budgets and programs, to keep lifting Americans up, to pull families back from the brink, to give everybody the fair chance my mom got and that every single person deserves.
(27:02)
That’s the America, Maya and Shyamala were drawn to. The America the president-elect and vice president-elect are ready to grow. I believe so strongly that our government is meant to serve all the American people. Republicans, Democrats, and Independents alike. All of whom deserve to know their government has their back. I look forward to working together alongside the dedicated career professionals of the OMB to expand possibilities for every American family.
(27:35)
I want to thank my own wonderful family. My husband, Ben, without his love and support, I would simply not be here. And our children, Elina and Jayden. Thank you all for this profound opportunity to serve.
Joe Biden: (27:49) Thank you.
Janet Yellen: (18:15)
Thank you, Mr president elect and Madam vice president elect. It’s my great honor to have this opportunity to serve you and the American people and to join this incredible economic team at this moment of great challenge for our country. Mr President elect, when you reflect on what your father taught you about how a job is much more than a paycheck I hear my own father who raised our family in working class Brooklyn. When he graduated from medical school, during the great depression, he looked for a home in a place to hang his shingle near the Brooklyn docks. Back then Bush terminal on the upper New York Bay was a thriving hub for manufacturing and transportation and for the union workers whose livelihoods depended on them. Knowing they didn’t have cars, my father found a home near a bus line. He started his family practice in the basement. While we lived on the floors above.
(19:27)
At the end of the day, he would talk to me, my brother and my mom about what work meant to his patients, our friends and neighbors, especially if they lost a job. The financial problems, the family problems, the health problems, the loss of dignity and self-worth. The value of work always stuck with me. So much so that I became an economist because I was concerned about the toll of unemployment on people, families, and communities. And I’ve spent my career trying to make sure people can work and achieve the dignity and self-worth that comes with it. Mr President elect, I know you’ve done the same. I saw it that understanding during the last great recession and the recovery act that followed and now we’re facing historic crises again.
(20:31)
The pandemic and economic fallout fit together have caused so much damage for so many and have had a disproportionate impact on the most vulnerable among us. Lost lives, lost jobs, small businesses struggling to stay alive or closed for good. So many people struggling to put on the table and pay bills and rent. It’s an American tragedy and it’s essential that we move with urgency. Inaction will produce a self-reinforcing downturn causing yet more devastation. And we risk missing the obligation to address deeper structural problems, inequality, stagnant wages, especially for workers who lack a college education. Communities that have seen industry disappear with no good jobs replacing lost ones. Racial disparities in pay, job opportunities, housing, food security, and small business lending that deny wealth building to communities of color. Gender disparities that keep women out of the workforce and keep our economy from running at full force. It’s a convergence of tragedies that is not only economically unsustainable, but one that betrays our commitment to giving every American an equal chance to get ahead. But I know this team will never give up that commitment.
(22:18)
As you’ve said before, Mr president elect, out of our collective pain as a nation, we will find collective purpose to control the pandemic and build our economy back better than before. To rebuild our infrastructure and create better jobs, to invest in our workforce, to advance racial equity and make sure that the economic recovery includes everyone. To address the climate crisis with American ingenuity and American jobs. Working together with the outstanding national security and foreign policy team you announced last week to help restore America’s global leadership. And above all, we share your belief in the American dream. Of a society, where each person, with effort, can rise to their potential and dream even bigger for their children. I pledge as treasury secretary to work every day towards rebuilding that dream for all Americans. And to the great public servants of the treasury department I look forward to working with you and Wally to rebuild the public trust. To the American people we will be an institution that wakes up every morning, thinking about you, your jobs, your paychecks, your struggles, your hopes, your dignity, and your limitless potential. Thank you.Thank you.
Neera Tanden: (24:24)
Mr. President-elect, Madam Vice President-elect, I’m humbled and honored by the trust you’ve placed in me to work with this talented team on behalf of the American people.
(24:36)
I’m especially proud to work alongside leaders who understand that budgets are not abstractions. They are a reflection of our values. They touch our lives in profound ways, and sometimes they make all the difference. Like the vice president-elect’s mother Shyamala, my mother Maya was born in India. Like so many millions across every generation, she came to America to pursue a better life.
(25:09)
I was raised in a suburb of Boston. A middle-class kid. But when I was five, my parents got divorced and my mom was left on her own with two young children and without a job. She faced a choice. Return to India, where at a time, divorce was stigmatized and the opportunities for her and her children would be limited. Or, keep fighting for her American dream.
(25:39)
She stayed. And America came through for her when times were tough. We relied on food stamps to eat. We relied on Section 8 housing vouchers to pay the rent. We relied on the social safety net to get back on our feet. This country gave her a fair shot to reach the middle-class and she made it work. She got a job as a travel agent and before long, she was able to buy us our own home in Bedford, Massachusetts, and eventually see her children off to college and beyond.
(26:17)
I’m here today, thanks to my mother’s grit, but also thanks to a country that had faith in us. That invested in her humanity and in our dreams. I’m here today because of social programs, because of budgetary choices, because of a government that saw my mother’s dignity and gave her a chance. Now it is my profound honor to help shape those budgets and programs, to keep lifting Americans up, to pull families back from the brink, to give everybody the fair chance my mom got and that every single person deserves.
(27:02)
That’s the America, Maya and Shyamala were drawn to. The America the president-elect and vice president-elect are ready to grow. I believe so strongly that our government is meant to serve all the American people. Republicans, Democrats, and Independents alike. All of whom deserve to know their government has their back. I look forward to working together alongside the dedicated career professionals of the OMB to expand possibilities for every American family.
(27:35)
I want to thank my own wonderful family. My husband, Ben, without his love and support, I would simply not be here. And our children, Elina and Jayden. Thank you all for this profound opportunity to serve.
Joe Biden: (27:49) Thank you.
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