President 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
The White House had been considering a number of senior officials in the federal government to replace National Economic Council Director Brian Deese, including Brainard and deputy Treasury Secretary Wally Adeyemo, a person familiar with the matter told CNN last month. Brainard, a former Treasury official in the Obama administration and a Fed governor since 2014, was seen as a leading contender, two people familiar with the matter previously told CNN.
As head of Biden’s economic council, he has been the driving force behind the administration’s economic policy and legislative agenda for two years and has been one of the most powerful NEC directors in recent memory. Biden, when confirming Deese would step down, touted his “critical” role in the passage of key legislation including the bipartisan infrastructure law, the Covid-19 relief bill, the CHIPS and Science Act and the health care and climate package.
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