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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerican University president on rising college costs: We have to focus on the value propositionSylvia Mathews Burwell, American University president and former HHS Secretary under President Obama, joins 'Squawk Box' to discuss the rising cost of higher education, why college is so expensive, the impact of A.I. in modern classrooms, and more.
Persons: Sylvia Mathews Burwell, Obama Organizations: American University
The White House will likely appoint Federal Reserve Vice Chair Lael Brainard to run the National Economic Council and Jared Bernstein to lead the Council of Economic Advisers, sources familiar with the matter tell CNBC. The appointments are expected to be announced after incoming White House Chief of Staff Jeff Zients assumes his role, as soon as next week. Bernstein is a member of the board he is expected to head, the White House Council of Economic Advisers. The White House is holding a ceremony on Wednesday to thank outgoing White House Chief of Staff Ron Klain and welcome Zients to the position. Current White House NEC Director Brian Deese is expected to depart imminently, sources said.
WASHINGTON—President Biden is considering Fed Vice Chair Lael Brainard as the next head of the National Economic Council, according to administration officials and others familiar with the matter. A final decision hasn’t been made, the officials said, adding that Mr. Biden is in the process of conducting interviews. Several other contenders are under discussion for the key economic policy-making role, the officials said, including Sylvia Mathews Burwell , who led the Office of Management and Budget and the Health and Human Services Department during the Obama administration. Ms. Burwell has been the president of American University since 2017.
The process to replace Deese as head of the powerful National Economic Council remains ongoing and the situation is fluid, the person said. The Washington Post first reported the leading candidates to replace Deese. Brainard was viewed as a leading contender to become Fed chair before Biden ultimately decided to renominate Jerome Powell. Brainard, a former Treasury official in the Obama administration and a Fed governor since 2014, was instead elevated to vice chair, the central bank’s No. U.S. Deputy Treasury Secretary Wally Adeyemo on October 13, 2022 in Washington, DC.
Lael Brainard, vice chair of the US Federal Reserve, listens to a question during an interview in Washington, DC, US, on Monday, Nov. 14, 2022. Federal Reserve Vice Chair Lael Brainard is a top candidate to take the most important economic position in the White House. Biden named Brainard vice chair at the Fed in 2022; she also was considered as a possible successor to Fed Chair Jerome Powell, whom Biden reappointed last year. Brainard is one of multiple candidates being considered and interviews for the position are continuing, according to a White House spokesman familiar with the matter. For her part, Brainard could garner support from progressives who are in favor of strong bank regulation and easier monetary policy.
President Joe Biden is searching for a replacement for National Economic Council (NEC) Director Brian Deese, who is expected to leave soon. Interviews are still ongoing to replace him, according to the sources who declined to discuss an ongoing personnel process. Biden's team is also starting to craft an economic message for his expected 2024 re-election campaign. But reducing high inflation became the administration's top economic priority last year as rising costs began to anger voters. She previously served as the Treasury's point person on international affairs during the Obama administration.
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