Biden’s top economic advisers plot their White House exit
President Joe Biden’s economic team will undergo a shake-up next year, with several senior advisers preparing to leave the White House, according to a Bloomberg report.
While the economy will undoubtedly take center stage heading into the 2024 presidential election, National Economic Council (NEC) Director Brian Deese is one of Biden’s economic advisers who is expected to leave next year. Despite the White House’s desire to keep him on board, Deese is expected to depart no later than the summer of 2023, Bloomberg reported.
Prior to joining the Biden White House, Deese oversaw BlackRock’s sustainable investing strategies and previously served as deputy director of former President Barack Obama’s NEC.
Biden’s Deputy Treasury Secretary Wally Adeyemo would be one of the top candidates expected to fill Deese’s role when he leaves, sources told Bloomberg.
Biden’s senior adviser Gene Sperling, who led the NEC under Obama and former President Bill Clinton, is also considering a bid to lead Biden’s NEC.
Along with Deese, Council of Economic Advisers Chair Cecilia Rouse will leave the Biden White House next year to return to Princeton University, where she previously served as a professor of economics and public affairs.
Biden’s Treasury Secretary Janet Yellen plans to stay in her post longer than Deese and Rouse, but Bloomberg sources told the outlet they expect her to leave as the cycle of the 2024 presidential election is heating up.
Although Biden has not officially announced his re-election campaign, he has always indicated that he will run for president again throughout his first two years in office.
Reports of Biden’s economics team shakeup come just weeks after Biden’s press secretary Karine Jean-Pierre told reporters the White House had begun “carefully planning for potential transitions.”
Under Biden’s watch, the economy has seen 40 years of high inflation, the highest gas prices in the nation and an economic recession.
The Labor Department’s consumer price index rose 0.4% in October, bringing the consumer price index to 7.7% year on year. As a result, inflation will cost US households, on average, an additional $5,200 in 2022, Bloomberg estimated.
After the United States experienced two consecutive quarters of negative GDP, the White House tried to redefine a recession, arguing that the traditional measure is “neither the official definition nor how economists assess the state of the cycle. economic”.
Despite White House Biden’s efforts to rewrite mainstream economics, a September poll found that 61% of Americans think the country is in a recession.
Jordan Dixon-Hamilton is a reporter for Breitbart News. Write to him at jdixonhamilton@breitbart.com or follow him on Twitter.
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