Lael Brainard will head up the National Economic Council, and Jared Bernstein will be chair of the Council of Economic Advisers.
— President Biden has named Lael Brainard as the new director of the National Economic Council and is nominating Jared Bernstein as the chair of the Council of Economic Advisers , beefing up his economic team after a series of departures and ahead of high-pressure talks over the debt ceiling and government spending.
Brainard will be only the second woman to head up the NEC, and has served in roles at the Treasury Department, NEC, CEA and Federal Reserve over the course of her career. In a statement announcing the appointment, Mr. Biden said she is"a trusted veteran across our economic institutions, and understands how the economy affects everyday people."
Lael Brainard, vice chair of the Federal Reserve, during an event in Washington, D.C., on Friday, Sept. 23, 2022.The moves come as the White House prepares for a showdown over the nation's borrowing limit, with the U.S. facing a deadline of roughly June to raise or suspend the limit to avoid risking a catastrophic default. Mr. Biden met with House Speaker Kevin McCarthy two weeks ago forThe president named several others to key economic positions in his administration on Tuesday.
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