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Search resuls for: "Steve Holland Lindsay Dunsmuir"


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☆ Biden taps Brainard, Bernstein to lead economic team, braces for debt ceiling fight
  + stars: | 2023-02-15 | by ( Andrea Shalal Steve Holland Lindsay Dunsmuir | Andrea Shalal | Steve Holland | ) www.reuters.com   time to read: +6 min
The decision, announced after financial markets closed, gives Biden a pair of trusted Washington insiders to steer economic policy as the risk of recession fades but inflation lingers. Big fights also loom with the Republican-controlled House of Representatives over raising the debt ceiling. The shakeup comes as the White House tries to tackle what officials view as a frustrating disconnect between relatively strong economic data and weak public sentiment. The White House has refused to discuss spending cuts without a debt ceiling vote first. Bernstein last week conceded that the White House's early description of inflation as "transitory" had missed the mark.
☆ Biden to name Brainard as top economic adviser, leaving gap at the Fed
  + stars: | 2023-02-14 | by ( Steve Holland Lindsay Dunsmuir | Steve Holland | Lindsay Dunsmuir | ) www.reuters.com   time to read: +3 min
Feb 14 (Reuters) - U.S. President Joe Biden is expected to name Federal Reserve Vice Chair Lael Brainard as his top economic policy adviser as early as Tuesday, a source familiar with the matter said, as the 2024 elections approach. Brainard, an experienced fiscal and monetary affairs official, would replace White House National Economic Council (NEC) Director Brian Deese, who has announced his resignation. In addition, Biden confidant Jared Bernstein is expected to replace Cecilia Rouse as chair of the Council of Economic Advisers, the source said. The White House declined to comment. Biden's overhaul of his top economic team comes as the Fed is still trying to glide inflation down without causing a recession.
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