National Economic Council Director Steps Down.
NEC Director Brian Neese Resigns.
President Joe Biden’s top economic adviser, Brian Deese, is leaving his post. Biden said Thursday in a statement that Deese would step down as director of the White House National Economic Council.
In a statement moments ago Deese said “It has been an unspeakable privilege to serve @POTUS,” Deese tweeted Thursday. “Thank you: For putting your trust in me; For leading us with resolve and integrity; and For Your unwavering vision that we can and will build an economy that works for all Americans.”
The White House confirmed the departure of Deese. As the main policy advisor to President Obama and Joe Biden and declined to comment on who will replace him. White House officials ignored questions about the timing of Deese’s announcement. Deese was instrumental in engineering the Auto-Industry Bailout, the Paris Climate Accord, and the $1.9 Trillion Pandemic Relief Package. His departure comes onthe heels of the recent Fed rate hike. Thus far, the economy having avoided a recession that many economists anticipated. He is the second major departure for the White House in recent weeks following Chief of Staff Ron Klain. Both Deese and Klain have been advisors to Biden for many years, raising concerns among some.
Stay tuned for updates and an analysis of the potential impact of the new National Economic Council Director on the US economy and policy. Lael Brainard, Vice Chair of the Federal Reserve, and Wally Adeyemo, Deputy Treasury Secretary, are rumored to be the leading contenders.