Biden announces reshaped economic team, naming 2 new top advisers
CBSN
Washington — President Biden has named Lael Brainard as the new director of the National Economic Council (NEC) and is nominating Jared Bernstein as the chair of the Council of Economic Advisers (CEA), beefing up his economic team after a series of departures and ahead of high-pressure talks over the debt ceiling and government spending.
Brainard, currently vice chair of the Federal Reserve, is replacing top White House economic adviser Brian Deese, who announced his departure from the administration earlier this month. Bernstein is replacing Cecilia Rouse as the president's chief economist. The two councils are responsible for the White House's internal economic analysis and policy development.
Brainard will be only the second woman to head up the NEC, and has served in roles at the Treasury Department, NEC, CEA and Federal Reserve over the course of her career. In a statement announcing the appointment, Mr. Biden said she is "a trusted veteran across our economic institutions, and understands how the economy affects everyday people."
