Posted 14 Feb. 2023 at 22:23
WASHINGTON, Feb 14 (Reuters) – U.S. President Joe Biden on Tuesday named Federal Reserve (Fed) Vice Chairman Lael Brainard as the White House’s top economic adviser, the U.S. presidency said in a statement.
Lael Brainard replaces Brian Deese, who announced his resignation two weeks ago.
The appointment comes as Joe Biden has embarked on an overhaul of his team of economic advisers, as the Fed continues to tighten monetary policy, facing the risk of an atypical recession, without significant job losses, the US labor market remaining particularly tense.
Lael Brainard, a 61-year-old Harvard-educated Democrat, joined the Fed nearly a decade ago and in November 2021 was named the central bank’s number two.
She was previously in charge of international affairs in the Treasury Department under President Barack Obama and economic adviser to Bill Clinton.
No name was immediately released to replace Lael Brainard at the Fed. (Report Steve Holland and Andrea Shalal; French version Laetitia Volga, edited by Kate Entringer and Jean Terzian)
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