U.S. President Joseph R. Biden is expected to name Federal Reserve Vice Chairwoman Lael Brainard as his top economic adviser, according to Bloomberg News. Brainard is known for her focus on crypto, as the sector founders, according to CoinDesk. The White House and a Fed spokesman declined to comment on the move, and Brainard could not be reached. An announcement is expected as soon as Tuesday. Brainard’s appointment as Biden’s top economic adviser is expected to bring a focus on crypto to the White House.
Lael Brainard, Vice Chairwoman of the Federal Reserve, has expressed concern about the recent volatility in the crypto financial system. She believes that strong regulatory guardrails are needed to protect investors and developers from suffering losses. Brainard has been closely monitoring the situation and is committed to helping build a resilient digital native financial infrastructure. Brainard has been Vice Chairwoman of the Federal Reserve since May 2022.
