<p>Brian Deese heads up US President Biden’s National Economic Council but will be departing soon. I don’t have a firm date but US Spring or Summer is mooted. </p><p>Federal Reserve Vice Chair Lael Brainard and deputy Treasury Secretary Wally Adeyemo are leading contenders to replace Deese. </p><p>US political pundit site <a href=”https://www.axios.com/2023/01/25/brainard-departure-impact-fed” target=”_blank” rel=”nofollow”>Axios </a>mulls what Brainard’s departure from the Fed would mean. In brief:</p><ul><li>One answer is that it would make her the odds-on favorite to be the next Fed chair, if Biden is re-elected. But that was already the case. There would be a more immediate impact on the Fed if she departs for 1600 Pennsylvania Avenue.</li><li>Brainard plays a thoughtful and active role in the monetary policy debates</li><li>It’s not an exaggeration to say that while Jerome Powell chairs the Fed, Brainard runs the place, in the sense of overseeing a vast swath of the central bank’s actual on-the-ground operations</li></ul><p>Brainard leans a little dovish when compared with many others on the Federal Open Market Committee (FOMC). This representation comes via BoA:</p>
This article was written by Eamonn Sheridan at www.forexlive.com.
