Lael Brainard would be succeeding Brian Deese, who helped handle several key legislative wins for Biden
President Joe Biden plans on Tuesday to name Federal Reserve Vice Chair Lael Brainard as the new director of his National Economic Council, making the Ph.D. economist a key point person for coordinating policy, talking with business leaders and negotiating with Congress.
Brainard would be succeeding Brian Deese, who helped handle several key legislative wins for Biden, including coronavirus relief, infrastructure spending and investments in computer chip production. Bernstein is already a member of the Council of Economic Advisers, where he would succeed current chair Cecilia Rouse, who is returning to Princeton University. With an interest in labor markets and income inequality, Bernstein worked as a vice presidential aide for Biden during Obama’s presidency.
However, President Biden has appointed three other members of the Fed’s governing board, so Brainard’s departure will not deprive the central bank of dovish voices.
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