Pres. Biden to Name Fed Vice Chairwoman Lael Brainard as Top Economic Adviser: Bloomberg
Brainard has been leading the U.S. Federal Reserve's work on a potential digital dollar and has been minding the store on crypto policy discussions until the central bank appoints its permanent vice chair for supervision.
Feb 14, 2023 at 3:48 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/TG5AYFMN5VFRRL43B6YQKQYDNI.jpg)
Lael Brainard (Drew Angerer/Getty Images)
U.S. President Joe Biden will name Federal Reserve Vice Chairwoman Lael Brainard as his top economic adviser, with an announcement to come as soon as Tuesday, Bloomberg News reported on Monday, citing people familiar with the matter.
The White House and a Fed spokesman declined to comment on the move, and Brainard could not be reached, according to Bloomberg.
Brainard has a focus on crypto as the sector founders, CoinDesk reported on July 8, 2022.
“Recent volatility has exposed serious vulnerabilities in the crypto financial system,” Brainard said in a speech in London in July last year.
Brainard said the Fed has been “closely monitoring recent events where risks in the system have crystallized and many crypto investors have suffered losses,” according to a copy of the speech. “Strong regulatory guardrails will help enable investors and developers to build a resilient digital native financial infrastructure.”
Brainard vice chairwoman since May 2022.
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Greg Ahlstrand was previously CoinDesk's Asia News Editor. Greg has no significant crypto holdings.
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