Boston Mayor, RI Governor Among Biden Adds To Economic Team - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Washington Wire
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Washington Wire RSS Get our newsletter
Order Prints
January 8, 2021 Washington Wire
Share
Share
Post
Email

Boston Mayor, RI Governor Among Biden Adds To Economic Team

Associated Press
President-elect Joe Biden

WILMINGTON, Del. (AP) — President-elect Joe Biden is set to introduce the governor of Rhode Island, the mayor of Boston and a small-business advocate from California as the newest members of his economic team.

Biden on Thursday announced Gov. Gina Raimondo as his choice to become commerce secretary, Mayor Marty Walsh as his candidate for labor secretary and Isabel Guzman as his pick to lead the Small Business Administration.

One of Biden's top challenges after he takes office Jan. 20 will be to nurse an economy reeling from the coronavirus pandemic back to health. He said the newest members of his economic team will help achieve that “by building an economy where every American is in on the deal.”

“They share my belief that the middle class built this country and that unions built the middle class,” said Biden, who planned to introduce Raimondo, Walsh, Guzman and a fourth candidate at an event Friday in Wilmington, Delaware.

With the picks, which require Senate confirmation, Biden moved a step closer to rounding out a Cabinet that he has pledged will be the most diverse in history. He has yet to name a candidate for CIA director.

Raimondo, 49, is a former venture capitalist serving her second term as governor after previously serving as state treasurer. A Democrat, she had been mentioned as a possible candidate for Biden's health secretary, but said last month that she would stay in Rhode Island and continue to focus on the coronavirus pandemic.

As commerce secretary, Raimondo would help set the Biden administration's trade policy and promote U.S. opportunities for growth domestically and overseas.

"Rhode Island may be small, but our economy is mighty on the strength of our small businesses and innovative technologies," Raimondo tweeted Thursday night. She pledged that as commerce secretary “I will harness that same American ingenuity to create good-paying union jobs and build our economy back better than ever before.”

The Biden administration’s stance on international trade will likely mark a significant shift away from President Donald Trump’s heavy-on-tariffs approach. Trump slapped tariffs on Chinese steel and other goods to punish Beijing for what the administration said were unfair currency practices and potential national security threats. Those moves were largely opposed by U.S. allies, including Canada.

Biden opposes Chinese tariffs and has promised to improve U.S. relationships with countries around the hemisphere and globe. But he hasn’t indicated that undoing the tariffs will be a top priority. Instead Biden has promised to oversee an aggressive “Buy American” campaign that would use federal funds to purchase $400 billion of U.S.-made goods and spend another $300 billion on new research and development from domestic technology firms.

Walsh, 53, has been Boston's mayor since 2014. When the Democrat took the oath of office in 2018 for his second term, Biden presided over the inauguration. Walsh was a state representative for more than a decade before becoming mayor.

He also has a long history with organized labor, formerly serving as president of Laborers Local 223 and heading the Boston Building Trades — a union umbrella organization.

The son of Irish immigrants, Walsh grew up in Boston's working-class Dorchester neighborhood. He survived a childhood bout with cancer and has been open about his early struggles with alcohol, using his history with addiction to encourage people to get help.

He opened his speech at the 2016 Democratic National Convention by saying: “Good evening. My name is Marty Walsh, and I’m an alcoholic.”

Walsh on Thursday pledged as labor secretary to work as hard for working people and those trying to move into the middle class "as you do for your families and livelihoods. You have my word.”

Leaders of the AFL-CIO and the Service Employees International Union, two major organized labor groups, backed Walsh's selection.

To lead the Small Business Administration, Biden said he had settled on Isabel Guzman, director of California's Office of the Small Business Advocate in the California Governor’s Office of Business and Economic Development.

Guzman has played a role in the state’s economic recovery from the COVID-19 pandemic. She is a former senior adviser and deputy chief of staff at the SBA, the federal agency she's been tapped to lead, and was an adviser at the first California-chartered, Latino-formed business bank to form in Los Angeles in over 35 years.

Biden also has tapped Don Graves, one of his longtime advisers, to be the deputy commerce secretary.

Older

While An Insurrection Shook Capitol Hill, The Markets Were Fine

Newer

January Is A Good Time To Begin Estate Planning

Advisor News

  • Women say their advisors respect them, but talk down to them
  • How PEPs compare with traditional 401(k)s
  • Allianz studies why 42% of Americans retire sooner than expected
  • Why advisors should be talking about life settlements
  • Millennials are ready to bring their advisor to the family table
More Advisor News

Annuity News

  • NAIC regulators continue pushing for annuity illustration updates
  • Wink: Flat first-quarter annuity sales fall just short of $100B
  • 26North Re Agrees to Acquire 100% of Independent Insurance Group
  • Matthew Michelini named Athene president, with an eye on annuity growth
  • Lincoln Financial Announces Executive Leadership Transitions
More Annuity News

Health/Employee Benefits News

  • Tom Campbell: Our healthcare system is spiraling out of control
  • After Iowa Medicaid goes private, abuse rises, wait for services soars
  • NEW YORK SENATE VOTES TO MODERNIZE PAID MEDICAL LEAVE BENEFITS FOR WORKERS FACING CANCER AND SERIOUS ILLNESS, ACS CAN CALLS ON ASSEMBLY TO DELIVER FOR PATIENTS AND PASS BILL
  • Cuts coming to Kentucky Medicaid program, social services and more
  • Parker: Investment helps healthcare crisis
More Health/Employee Benefits News

Life Insurance News

  • AM Best Assigns Issue Credit Ratings to The Northwestern Mutual Life Insurance Company’s New Surplus Notes
  • Prudential announces more layoffs as insurer continues to restructure
  • Pradip Patiath Joins Securian Financial Board of Directors
  • Over $107 million in life insurance benefits located for Tennesseans in 2025
  • Study Data from National Institutes of Health Provide New Insights into Law and the Biosciences (Taking actuarial fairness seriously: what is required for the ethical use of genetics in insurance?): Legal Issues – Law and the Biosciences
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Aim higher during Annuity Awareness Month
Raise the bar with our diverse portfolio of Ascend annuities, backed by superior financial strength

Maximize Your FIA Case Results
Learn a repeatable process to review, reposition, and present FIA opportunities with confidence.

You Could Be Losing Up to 20% of Your Commissions
GreenWave helps you find, fix, and prevent commission errors.

True Independence Means Having Choices
Cambridge offers flexibility, stability, proven tools—no private equity strings attached.

Life moves fast. Your BGA should, too.
Stay ahead with Modern Life's AI-powered tech and expert support.

Press Releases

  • RFP #T01625
  • Rockwood Programs Appoints Kerry Ladouceur as Vice President, Financial Lines
  • JP Insurance Group Launches Commercial Property & Casualty Division; Appoints Joe Webster as Managing Director
  • Sequent Planning Recognized on USA TODAY’s Best Financial Advisory Firms 2026 List
  • Highland Capital Brokerage Acquires Premier Financial, Inc.
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet