Brainard’s Exit Spurs Speculation on Fed Vice Chair Replacement

Federal Reserve Vice Chair Lael Brainard’s pending departure to the White House has spurred speculation over who would replace the influential dove as policymakers weigh how much further to raise interest rates.

President Joe Biden, who named Brainard as the new head of the National Economic Council on Tuesday, may be nowhere near deciding whom to nominate at the central bank, a post requiring Senate confirmation. But Fed watchers wasted no time in coming up with some names of their own after Brainard’s name surfaced last month as a contender for the key administration job.