U.S. President-elect Joseph R. Biden Jr. has nominated Nigerian-American Adewale ‘Wally’ Adeyemo, for Deputy Secretary of the Treasury. On Tuesday, Biden introduced Adeyemo to the American people.
Adeyemo, a veteran of the Executive Branch and expert on macro-economic policy and consumer protection with deep national security experience, previously served as Deputy Director of the National Economic Council, Deputy National Security Advisor, and the first Chief of Staff of the Consumer Financial Protection Bureau.
If confirmed, 39-year old Adeyemo would be the first African American Deputy Secretary of the Treasury.
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Speaking in Wilmington, Delaware on Tuesday after he was introduced by President-elect Biden, Adeyemo said the Biden economic team believes all Americans deserves a fair shot “when they need it most.”
“I was prouder still to serve with leaders like the President-elect, who oversaw the Recovery Act’s implementation — investing in American workers, betting on their resilience and drive, and giving families a chance to get up off the mat.
“I believe that’s what public service is all about at its best: Giving people a fair shot when they need it most, offering hope through the dark times, and making sure that our economy works not just for the wealthy, but for the hard-working people who make it run,” Adeyemo said.
Read full remarks by Nominee for Deputy Secretary of the Treasury, Wally Adeyemo in Wilmington, Delaware
Mr. President-elect, Madame Vice President-elect — thank you for this opportunity to return to the Treasury Department and serve the American people.
I know firsthand the President-elect’s capacity to lift our country out of hard times, because I had the privilege of working with him to help Americans recover from the Great Recession.
In California’s Inland Empire, where I‘d grown up in a working-class neighborhood, the Great Recession hit us hard — we were one of the foreclosure capitals in the United States.
The pain of this was real for me — it wasn’t just a number in a jobs report or a story on the nightly news — but neighbors and friends who lost everything.
I was proud of the work my teams did at the Consumer Financial Protection Bureau and the Treasury Department to help turn the tide.
I was prouder still to serve with leaders like the President-elect, who oversaw the Recovery Act’s implementation — investing in American workers, betting on their resilience and drive, and giving families a chance to get up off the mat.
I believe that’s what public service is all about at its best: Giving people a fair shot when they need it most, offering hope through the dark times, and making sure that our economy works not just for the wealthy, but for the hard-working people who make it run.
Those are lessons I learned from my parents — an elementary school principal and a nurse, who came to America to build a better life for me and my siblings.
They taught us that we have a responsibility to serve our community and the country that gave us so many opportunities, but I also learned early on how much more needs to be done to ensure that everyone has the fair chance they deserve.
I look forward to working with Janet Yellen to reduce inequality in this country and expand the middle class, and make sure we build an economy that works for everyone.
As we build back better, we must also remain laser-focused on the Treasury Department’s critical role protecting our National Security.
This includes using our sanctions regime to hold bad actors accountable, dismantling the financial networks of terrorist organizations and others who seek to do us harm, and ensuring our foreign investment policy protects America’s national security interests.
The challenges before us today are unlike anything we have ever faced.
But I know that what the President-elect so often reminds us is true — the American people can do anything when given a chance.
I’m honored to be a part of this talented team, to get to work with them and all Americans, to build an economy that gives everyone that chance, and turns our nation once again from crisis to hope.