Federal Reserve Vice Chair Lael Brainard will step down from her position and serve as President Joe Biden’s top economist, the White House said on Tuesday.
Brainard will serve as the new head of the National Economic Council (NEC), succeeding Brian Deese, who recently announced his resignation.
President Biden also named long-time associate Jared Bernstein to chair the White House Council of Economic Advisers, and tapped Joelle Gamble, chief economist for the Department of Labor, as the deputy NEC director.
“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,” the president said in a statement….