Economic Turmoil During Covid-19 Featuring Cecilia Rouse
Candidate for the post of head of the White House Economic Advisory Council on Thursday speaks at a hearing before the Senate Banking Committee
The severe economic impact of the coronavirus pandemic gives the United States an opportunity to build a fairer economy, Cecilia Routh, nominated by President Joe Biden to head the White House Economic Advisory Council, said Thursday in the Senate..
Speaking at a hearing before the Senate Banking Committee, Routh noted that due to the pandemic, many Americans have lost economic security.
“Too many people have fallen through our frayed safety net into adversity and hopelessness,” Rouse said. “And the structural inequality that has always existed in our economy is not just exposed, but exacerbated, and its impact is more destructive than ever before.”.
Economic Council presidential nominee said she intends to pay less attention to the “average” outcomes that have created an economy that has exacerbated inequality.
“This analysis does not capture the experiences of many people who are left behind. This is especially true of the non-white population.. Therefore, one of my priorities as chair will be to try to understand how politics will affect all citizens of our country as we strive to build an economy that works for all, ”she said..
Routh, 57, will become the first African American to chair the Economic Council. She served on the board of the Obama administration from 2009 to 2011, during the worst years of the last economic crisis, and also held an economic position under Clinton..
Rouse says she became interested in economics while attending Harvard in the 1980s, when unemployment soared. Her primary focus is on the labor market and the impact of education on people’s professional prospects..
She noted that the Biden administration needs to take action to put the economy on solid ground.
“But as dire as the economic consequences of this pandemic are, it also gives us the opportunity to make the economy better than before: making it work for everyone, increasing the availability of good jobs and leaving no one vulnerable,” added Routh..
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