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Fed’s Brainard One of the most prominent contenders for White House Economic post

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Lael BrainardVice chair of the US Federal ReserveDuring an interview, she listens to a person’s question. WashingtonDC, US Monday, Nov. 14, 2022. 

Andrew Harrer | Bloomberg | Getty Images

Federal Reserve Vice Chair Lael Brainard This is the top candidate to assume the most important economic post in the White House.

The A central bank official is among the strongest candidates to succeed. Brian Deece as the director National Economic CouncilAccording to sources familiar with this matter, it is. The Washington Post first reported The story is based on three sources who have knowledge of the process.

BrainardThe 61-year-old was believed to be Top candidate Treasury secretary When President Joe Biden First to be elected in 2021. Fed Chair Janet Yellen The post was eventually chosen. Biden Name Brainard Vice chair at the Fed In 2022, she was also considered as a possible successor. Fed Chair Jerome PowellWhom Biden Last year, reappointed.

Deece He has not yet set a departure date, but is expected soon.

Brainard This is one of the many candidates being evaluated. Interviews for the position continue, according to a White House Spokesman for the subject was not available.

For Her part Brainard Progressives would support strong bank regulation and a more flexible monetary policy. She Also, he has been a leader in the effort to create the Fed Banks can be asked to submit Climate-related events to be managedAs part of a policy shift that altered the central bank’s approach to employment, it was able to push for a digital currency.

Along With all these efforts Brainard has led updates to the Community Reinvestment ActThe legislation that has been favored by Democrats That encourages banks lending to low income people. Americans.

A Fed spokesman declined comment. Officials There are currently blackout periods before the Jan. 31-Feb. 1 policy meeting.

The White House I also didn’t comment.

Along With BrainardOther top contenders are: Post Check out the current list. Deputy Treasury Secretary Wally Adeyemo; Gene SperlingAdvisor to former presidents Barack Obama And Bill Clinton; Former Health And Human Services Secretary Sylvia Mathews Burwell; deputy NEC Director Bharat Ramamurti Commerce Secretary Gina RaimondoAccording to reports, he isn’t interested in the job.

If chosen, Brainard With the U.S. economic system seemingly in its final stages, it would be assumed that they will take over. The brink of recessionAs the Fed How to stop aggressive interest rate increases aimed at fighting runaway inflation

The This role would give her strong influence on a variety of administration priorities including energy, antitrust, and housing.

Brainard’s Ascent would create a vacant position at the FedIt is expected that the Bank of England will stop its recent rate hikes early in the year. The rate-setting Federal Open Market Committee It meets next week, and almost everyone expects to enact. a quarter-point increaseThis is the smallest movement since the current policy tightening started in March 2022.

In her Recent speech, Brainard Inflation is still too high, according to the Fed It is likely that rates will remain high until prices are brought down.

“Even with the recent moderation, inflation remains high, and policy will need to be sufficiently restrictive for some time to make sure inflation returns to 2% on a sustained basis,” She said.

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