WASHINGTON – Amid concerns over high inflation, the White House has made key appointments to shape U.S. economic policy. Lael Brainard, the current Federal Reserve Vice Chair, has been selected to lead the National Economic Council, while Jared Bernstein will head the Council of Economic Advisors.
These appointments follow a series of staff changes within the administration, as President Biden prepares for a potential re-election campaign.
Ron Klain has been replaced as White House chief of staff by Jeff Zients, and Brian Deese, the current director of the National Economic Council, has announced that he will be stepping down. Additionally, Kate Bedingfield, the White House communications director, has announced her plans to leave at the end of the month.
Statement from President Biden:
“Cecilia Rouse and Brian Deese are trusted advisors that I have relied on to help craft my economic agenda, and our country owes them a debt of gratitude for their service. As they transition out of the White House, I am pleased to announce new leaders who will continue to deliver on my economic vision and help finish the job.
Lael, one of the country’s leading macroeconomists, brings an extraordinary depth of domestic and international economic expertise, having previously served at CEA, NEC, the Treasury Department and the Federal Reserve. She is a trusted veteran across our economic institutions, and understands how the economy affects everyday people.
Jared is a brilliant thinker and one of my closest and longest-serving economic advisers. He is an expert on worker empowerment and a worker-centric economic policy, which has long been the heart of my economic vision. A former social worker, Jared was in the foxhole with me while I was Vice President, and he understands that a job is about far more than a paycheck, it’s about the dignity of work.
Along with Bharat, Heather, Joelle and other key members of my White House economic team, Lael and Jared will help bring a seriousness of purpose to the task of building a strong, inclusive, and more resilient economy for the future. Over the past two years, my economic strategy has delivered historic results for the American people. This team will be committed to implementing that strategy, while managing the transition of our historic economic recovery to steady and stable growth. They will work tirelessly to ensure every American enjoys a fair return for their work and an equal chance to get ahead, and that our businesses can thrive and outcompete the rest of the world. Let’s finish the job.”
Brainard will be the second female director of the NEC.
