In a shocking turn of events, Brian Deese, the top economic advisor to President Joe Biden, announced his resignation from the National Economic Council. This departure comes just days after the departure of White House Chief of Staff Ron Klain, leaving many to question the stability and direction of the Biden administration’s economic policies.
Despite President Biden’s praise for Deese’s role in crafting major pieces of legislation, including the American Rescue Plan and the Bipartisan Infrastructure Law, the reality is that these policies have had disastrous consequences for the American economy.
The $1.9 trillion American Rescue Plan has been blamed by economists, including former Clinton Treasury Secretary Larry Summers, for triggering inflationary pressures not seen in decades. In June 2021, inflation reached an unprecedented 9 percent, causing financial instability and negatively impacting millions of American families.
Brian Deese’s predecessor, Larry Kudlow, who served as the director of the National Economic Council under President Donald Trump, warned that the tax hikes and environmental restrictions imposed by the Biden administration have suppressed the supply side of the economy, leading to increased demand and spiraling inflation. Kudlow believes that the solution is to spend less and produce more, a sentiment shared by many Republicans.
While President Biden has yet to announce a replacement for Deese, it is rumored that Lael Brainard, vice chairwoman of the Federal Reserve, or Wally Adeyemo, the deputy Treasury secretary, are among the top contenders for the position.
The resignation of Brian Deese is a clear indication of the failure of the Biden administration’s economic policies and a warning for the future of the American economy. With Deese’s departure, passionate Republican voters must remain vigilant and advocate for responsible and sustainable economic policies that will benefit all Americans.