Brian Deeds heads President Biden’s National Economic Council, but will soon resign. There is no specific date, but spring or summer in the US is being considered.
Federal Reserve Vice Chairman Rael Brainard and Deputy Treasury Secretary Wally Adiemo are among the front-runners to replace Deeds.
US political commentator site Axios is considering what Brainard’s departure from the Fed might mean. Simply put:
- One answer is that if Biden is re-elected, she will likely be the next Fed chairman. If she left for 1600 Pennsylvania Avenue, it would have a more direct impact on the Fed.
- Brainard takes a thoughtful and active role in the monetary policy debate
- It’s fair to say that Brainard has been chairing the Fed while Jerome Powell has been chairing it.
Brainard tends to be somewhat dovish compared to many other members of the Federal Open Market Committee (FOMC). This representation is provided via his BoA.