Lael Brainard

American economist

Lael Brainard (born January 1, 1962) is an American economist. Brainard is the 14th Director of the National Economic Council since 2023. She was the Vice Chair of the Federal Reserve from 2022 to 2023. She was on the Federal Reserve Board of Governors from 2014 to 2023. She was the United States Under Secretary of the Treasury for International Affairs from 2010 to 2013. She is a member of the Democratic Party.

Lael Brainard
Official portrait, 2023
Director of the National Economic Council
Assumed office
February 21, 2023
PresidentJoe Biden
Preceded byBrian Deese
Succeeded byKevin Hassett (designate)
22nd Vice Chair of the Federal Reserve
In office
May 23, 2022 – February 18, 2023
PresidentJoe Biden
Preceded byRichard Clarida
Succeeded byPhilip Jefferson
Member of the Federal Reserve Board of Governors
In office
June 16, 2014 – February 18, 2023
PresidentBarack Obama
Donald Trump
Joe Biden
Preceded byElizabeth Ashburn Duke
Succeeded byAdriana Kugler
Under Secretary of the Treasury for International Affairs
In office
April 20, 2010 – November 8, 2013
PresidentBarack Obama
Preceded byDavid H. McCormick
Succeeded byNathan Sheets
Personal details
Born (1962-01-01) January 1, 1962 (age 62)
Hamburg, West Germany (now Germany)
Political partyDemocratic
Spouse(s)
(m. 1998)
Children3
EducationWesleyan University (BA)
Harvard University (MA, PhD)

Brainard was nominated by Barack Obama to serve as the undersecretary of international affairs at the Department of the Treasury on March 23, 2009.[1] She was sworn in on the same day on April 20, 2010.[2] She resigned on November 8, 2013.[3]

Brainard was nominated to the Fed board on January 13, 2014, alongside Stanley Fischer and Jerome Powell. She was confirmed by a 61-31 vote in the U.S. Senate on June 12, 2014.[4]

President Joe Biden nominated Brainard to be the Vice Chair of the Federal Reserve on November 22, 2021.[5] On April 26, 2022, her nomination as Federal Reserve Vice Chair was confirmed by the U.S. Senate.[6]

In February 2023, Biden announced Brainard as his Director of the National Economic Council.[7]

References

change
  1. "President Obama Announces Additional Treasury Department Nominations". The White House. Retrieved 2020-11-20.
  2. "PN224 - Nomination of Lael Brainard for Department of the Treasury, 111th Congress (2009-2010)". www.congress.gov. 2010-04-20. Retrieved 2020-11-20.
  3. "Dow Jones". Dow Jones. Retrieved 2020-11-20.
  4. "PN1344 - Nomination of Lael Brainard for Federal Reserve System, 113th Congress (2013-2014)". www.congress.gov. 2014-06-12. Retrieved 2020-11-20.
  5. "US President Biden to Keep Powell as Chair, Elevates Lael Brainard to Serve as Vice Chair". Sovereign Wealth Fund Institute. Retrieved November 11, 2021.
  6. Rugaber, Christopher (April 26, 2022). "Brainard wins Senate confirmation to be Fed's vice chair". Associated Press. Retrieved April 26, 2022.
  7. "Biden announces reshaped economic team, naming 2 new top advisers". CBS. Retrieved February 14, 2023.