Biden Taps Fed’s Lael Brainard, Jared Bernstein as Top Economic Advisers

President Biden The White House has named two top economic advisors as it plans to manage the economy in the face of rising inflation.

FOX Business has learned that Lael Brainard, the Federal Reserve Vice Chairman, is being nominated by Biden to lead his National Economic Council. Brainard Brian Deese’s successor. Who is stepping down in this month’s elections? The market will close Tuesday at midnight.

INFLATION ROSE 6.4% in JANUARY

Federal Reserve Board Governor Lael brainard testifies before the Senate Banking Committee Hearing on her nomination for vice-chair of Federal Reserve. The hearing took place on Capitol Hill in Washington on Jan. 13, 2022.  (REUTERS/Elizabeth Frantz / Reuters Photos)

Jared Bernstein, a longtime ally of the president, will be nominated to chair the board. White House Council of Economic AdvisersReuters and The Associated Press report.

These appointments are made at a critical time for Biden’s presidency. The White House is fighting to control the White House. Economic instability Since 2021, this has been evidently a problem in the United States.

JANUARY RENTS SUBJECT TO THE SMALLEST INCREASE DURING MAY 2021

Brainard, 61 years old, is a Harvard University economist. During the Clinton presidency, she was the National Economic Council’s deputy director. During Barack Obama’s presidency, she was also the Treasury’s undersecretary for international affairs. Brainard was a Fed governor in 2014. Biden nominated Brainard to be vice-chair.

Biden speaks at the Laborers’ International Union North America training center in Deforest, Wis., Wednesday, February 8, 2023. (AP Photo/Morry Gah / AP Newsroom).

The January consumer price index (CPI), which rose 6.4% on an annual basis, was hotter than anticipated, but remained steady in comparison to last month. 

Factoring volatile foods into the equation energy costs, the core consumer price index rose 0.4% in January, slightly above December’s 0.3% increase. Annually, core CPI ticked up 5.6% in January, more than expected — lower than September’s 6.6% increase, which was the highest in 40 years.

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Jared Bernstein, member of Council of Economic Advisers, speaks at a news conference held in the James S. Brady Press Briefing Room, White House, Washington, D.C., Friday, April 1st 2022.  (Oliver Contreras/Sipa/Bloomberg via Getty Images)

However, inflation is expected remain at three times the annualized average of the pre-pandemic period. This underscores the financial burden that high prices continue to place on millions of American households.

This report was contributed by Breck Dumas, FOX Business, and The Associated Press.

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