President Joe Biden intends to nominate Jay Shambaugh, a former member of the Council of Economic Advisers under Barack Obama, to be the Treasury Department’s undersecretary for international affairs, the White House said Friday.
If confirmed by the Senate, Shambaugh will become Treasury Secretary Janet Yellen’s top policy adviser on international trade and development issues. The post’s holder typically plays a prominent role in Group of Seven and G-20 deliberations over economic and financial matters.
