The White House has announced the appointment of Lael Brainard of the Federal Reserve as the new director of the National Economic Council. Brainard will be tasked with helping President Biden implement his economic agenda, including pandemic relief, infrastructure, and tax bills. However, the U.S. is currently at risk of defaulting on its debt in July if Congress does not act to raise or suspend the debt limit. Brainard's expertise and experience will be essential in helping the White House navigate this difficult situation.
Posts tagged as “Brainard”
The Federal Reserve is signaling that it will continue to raise interest rates, despite signs of slowing economic activity and inflation. At a press conference, Vice Chair Lael Brainard noted that inflation is still high and Cleveland Fed President Loretta Mester said the policy rate may need to go higher than 5%. The Fed will discuss the policy rate at their upcoming meeting and monitor economic activity and inflation to determine the appropriate rate.