Biden’s top economist quits. See the list of suitors to replace him



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CNN

The White House is considering a number of senior federal government officials to replace top economist Brian Deese, including Federal Reserve Vice Chairman Lael Brainard and Deputy Treasury Secretary Wally Adeyemo, a person familiar with the CNN told CNN on Wednesday. case.

The process of replacing Deese as head of the powerful National Economic Council continues and the situation is fluid, the person said. Brainard is considered a leading candidate, although the process is still ongoing and President Joe Biden has not made a final decision, according to two people familiar with the matter.

Deese has become one of the faces of Biden’s economic agenda, frequently appearing on television to explain the administration’s views and policies. CNN previously reported that Deese planned to quit.

Deese has long planned to leave in the early months of this year and is playing a part in selecting his replacement. As head of Biden’s economic council, he drove the administration’s economic policy and legislative agenda for two years and was one of the NEC’s most powerful directors in recent memory.

In addition to Brainard and Adeyemo, candidates to replace Deese include senior Biden adviser Gene Sperling, former Health and Human Services Secretary Sylvia Mathews Burwell and NEC Deputy Director Bharat Ramamurti, the person familiar with the matter. told CNN.

The Washington Post first reported the leading candidates to replace Deese.

The White House declined to comment.

Brainard was considered a top contender for Fed chairman before Biden finally decided to renominate Jerome Powell. Brainard, a former Treasury official in the Obama administration and Fed governor since 2014, was instead elevated to vice president, the central bank’s No. 2 official.

US Under Secretary of the Treasury Wally Adeyemo October 13, 2022 in Washington, DC.

If Brainard were to take on the NEC role, it would open up a critical position for Biden at the Fed at a time when rapid central bank rate hikes have raised concerns among some Democrats that the aggressive posture to tame inflation could have consequences. negative effects on the wider economy.

The Federal Reserve declined to comment.


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