Biden administration officials are considering recruiting a seasoned business executive — potentially a Wall Street banker — to join the White House in a senior role.
Biden administration officials are considering recruiting a seasoned business executive — potentially a Wall Street banker — to join the White House in a senior role, people familiar with the matter tell Axios.After being blindsided by inflation, the president's team wants to ensure he is getting a 360-degree view of the economy, even if that means inflaming the party’s progressive base by bringing in a figure with corporate finance and investment expertise.
Corporate profits are down, interest rates are rising, and markets are volatile. The White House wants to stay in front of any financial crises — or contagion.this winter, creating a high-profile opening at the nerve center of Biden’s White House. White House senior adviser Anita Dunn told Axios that "while we are prudently planning for potential transitions post-midterm, Brian Deese is not part of those plans."
Effron, a longtime Democratic donor, is also a member of the President's Intelligence Advisory Board and involved with the Hamilton Project, which focuses on economic policy and is associated with the Brookings Institution,Democrats did better than expected in the midterm election with an 8.2% election day inflation rate, but top officials, including the president, know they need to get inflation under control.
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