Biden's Economic Agenda Needs an Overhaul
With the expected departure of two key advisers, the White House has an opportunity to address policies seen as supporting inflation.
Can Joe Biden save the economy?
Photographer: Oliver Contreras/Bloomberg via Getty Images
Presidential administrations never stay the same from beginning to end. Top personnel come and go for various reasons, and we seem to be seeing that now with the Joe Biden administration. Bloomberg News recently reported that the White House’s top economic adviser, Brian Deese, is expected to depart next year as director of the National Economic Council. There’s speculation that Cecilia Rouse, chair of the Council of Economic Advisors, will leave next year as well.
For Biden, these departures are potentially welcome news. His administration’s economic policy desperately needs an overhaul after adjusting too slowly to a new reality that threatens both the health of the economy and the president’s re-election chances in 2024. When he took office, Biden and his team assumed they would be dealing with the same economic challenges that plagued recent predecessors, especially a jobless recovery. (This happens when jobs growth is sluggish despite more robust gains in gross domestic product.)