Economics Article
The article I read is called “Biden Reshapes Economic Team Ahead of Debt-Ceiling
Fight, Re-Election Campaign”. The main focus of this article was on a particular individual, her
name is Lael Brainard. Her upbringing is being the daughter of a U.S diplomat who resided in
West Germany and communist Poland, which tells us that she was born into having connections,
a global outlook, and most likely comes from an aristocratic educational background. It makes
sense that she comes from a background like that because she’s had an insider perspective of
global affairs throughout her childhood.
Refocusing on the more general point of the article, President Biden elects Lael Brainard
to run the National Economic Council. The Wall Street Journal credits Biden with “Reshaping
the Economic Team”, however, I have to disagree. In particular, she served as the top diplomat in
the Treasury Department from 2009 to 2013 and as an adviser to former President Bill Clinton
on international economics. Additionally, she was the sole Obama administration appointee on
the board during the Trump administration. Then she made a smooth transition into the Biden
administration. I personally do not consider Biden’s decision one of “reshaping” as she has been
a constant figure in regard to global economics or economics, in general, that concern the White
House.
The reason for her election is because of the Debt-Ceiling Fight. It is to prepare for
discussions with Republicans over raising the federal debt ceiling, and as the U.S. economy has
sought to emerge from high inflation, rising interest rates, and slowing growth. I think she was a
good appointment for the role as she has been under both Republican and Democrat
administrations with a great deal of expertise.
Citation:
Thomas, Ken. “Biden Reshapes Economic Team Ahead of Debt-Ceiling Fight, Re-Election
Campaign.” WSJ, 14 Feb. 2023,
www.wsj.com/articles/biden-reshapes-economic-team-ahead-of-debt-ceiling-fight-re-elec
tion-campaign-badd76f8?mod=economy_lead_pos2.