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PoliticsUnited States of America

President Joe Biden names new economic advisers

February 15, 2023

Lael Brainard from the Federal Reserve and long-time adviser Jared Bernstein will join the president's team. The move comes as the US continues to battle high inflation.

https://p.dw.com/p/4NUMc
President Joe Biden delivering the State of the Union address to a joint session of Congress
The new advisers will take key roles in tackling high inflationImage: Patrick Semansky/AP Photo/picture alliance

US President Joe Biden named two Washington policy veterans as key economic advisers on Tuesday as he faces a Republican controlled Congress and embarks on a possible re-election run for 2024.

Federal Reserve Vice Chair Lael Brainard has been picked to lead the National Economic Council (NEC) — a body that advises the president on domestic and international economic policy.

"Lael, one of the country's leading macroeconomists, brings an extraordinary depth of domestic and international economic expertise," Biden said in a statement.

"She is a trusted veteran across our economic institutions, and understands how the economy affects everyday people," he added.

Inflation

Biden also said he was nominating Jared Bernstein — who previously served as Biden's top economist during his time as vice president — to become the chief White House economist as chair of the Council of Economic Advisers.

The president called Bernstein "an expert on worker empowerment and a worker-centric economic policy."

The two will aid the White House as it seeks to curb a stubborn inflation problem and support the roll-out of Biden's flagship economic policy, the Inflation Reduction Act (IRA).

Davos: COVID, inflation, Ukraine war fuel global recession

ab/jsi (AFP, Reuters)