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Lael Brainard is a former Federal Reserve vice chair and governor, and the current director of the National Economic Council under President Biden. She has a background in academia, the Clinton White House, and the Treasury Department, and has expertise in global economic issues.
- Early Life and Education
- Notable Accomplishments
- Director of The National Economic Council
- The Bottom Line
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The child of an American diplomat, Brainard grew up in East Germany and Poland during the Cold War.She received a B.A. with university honors from Wesleyan University in 1983. She received an M.S. and a Ph.D. in economics in 1989 from Harvard University. She was awarded a National Science Foundation Fellowship and a White House Fellowship.
Prior to joining the FRB, Brainard was undersecretary of the U.S. Department of the Treasury for three years, from 2010 to 2013. In 2009, she was counselor to the secretary of the Treasury while also serving as a U.S. representative to the Group of 20 (G-20) Finance Deputies and the Group of Seven (G-7)Deputies. She was a member of the Financial St...
In mid-February 2023, President Biden named Brainard to head the White House’s economic policy team as director of the National Economic Council. She succeeded Brian Deese in this role. Brainard is viewed as less restrictive on monetary policy than some of her Fed colleagues at a time when the Biden administration is hoping to control rising inflat...
With Brainard now occupying the chief economic advisor position in the White House, it remains to be seen how she will help to guide and implement President Biden’s economic agenda. Brainard is viewed as being more dovish than Powell, meaning she is less concerned about inflation and less likely to support an increase in interest rates.
Lael Brainard is the director of the National Economic Council and a former Fed vice chair. Learn about her early life, education, achievements, and how she approaches monetary policy.
- Mark Kolakowski
Feb 14, 2023 · Lael Brainard announced her resignation on February 14, 2023, effective on or around February 20, 2023. She served as Vice Chair of the Federal Reserve Board since May 2022 and as a Board member since 2014.
Feb 14, 2023 · Lael Brainard, a former Federal Reserve vice-chair and Treasury official, will lead the National Economic Council under President Biden. She joins other key members of his economic team, including Jared Bernstein, Bharat Ramamurti, Heather Boushey and Joelle Gamble.
Feb 14, 2023 · Lael Brainard, the Fed’s vice chair, will become a top economic adviser along with Jared Bernstein, who would head the Council of Economic Advisers.
Nov 22, 2021 · Lael Brainard, a Federal Reserve governor since 2014, was in the mix to potentially replace Jerome H. Powell as Fed chair, but President Biden’s decision to elevate her to the Fed’s No. 2...
Feb 14, 2023 · President Joe Biden has named Lael Brainard, vice-chair of the US Federal Reserve, as his top economic adviser, bringing the central bank’s second-in-command to the White House to serve...
