President Joe Biden is expected to name Federal Reserve Vice Chairwoman Lael Brainard to lead economic policymaking at the White House, according to reports.
Brainard will replace outgoing White House National Economic Council Director Brian Deese, moving to the White House from the independent central bank as it fights to lower inflation. Deese announced his departure earlier this month.
Biden plans to announce Brainard’s move, along with the appointment of longtime economic adviser Jared Bernstein to lead the White House Council of Economic Advisers, on Tuesday, according to Bloomberg.Bernstein will replace CEA Chairwoman Cecilia Rouse, whom the White House confirmed would return to her academic post.The appointments come as the White House prepares for an extended fight with Capitol Hill lawmakers over the debt limit and Biden eyes an expected reelection bid in 2024.
Republicans oppose raising the debt ceiling without spending cuts, while the White House is urging a debt ceiling vote before any negotiations over spending.Polls show Biden has struggled to find a persuasive economic message despite a strong job market, low jobless claims, and Congress passing several key legislative priorities for the White House during the president’s first two years in office.
In a statement on the latest inflation report Tuesday, Biden said there was “more work to do” to bring down inflation.
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Who is Lael Brainard?The Federal Reserve vice chair is known for championing regulation of Wall Street and calling for policies that helped expand the labor market.
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Federal Reserve vice chair to become top Biden economist | CNN PoliticsPresident Joe Biden will name Federal Reserve Vice Chair Lael Brainard as his top economic adviser, according to two sources familiar with the matter, with an announcement expected as soon as Tuesday.
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Biden to name Fed's Lael Brainard to lead National Economic CouncilPresident Joe Biden is set to name Federal Reserve Vice Chair Lael Brainard to serve as his economic-policy coordinator at a difficult time when the U.S....
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Biden to name Fed's Lael Brainard as top economic adviser - sourceU.S. President Joe Biden is expected to name Federal Reserve Vice Chair Lael Brainard to the White House's top economic policy position as early as Tuesday, a source familiar with the matter said on Monday.
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