In this November 2021 photo, Lael Brainard, a member of the Federal Reserve's Board of Governors, speaks after she was nominated by U.S. President Joe Biden to serve as vice chair of the Fed at the White House.
Mandatory Credit:	Kevin Lamarque/Reuters/File

In this November 2021 photo, Lael Brainard, a member of the Federal Reserve's Board of Governors, speaks after she was nominated by U.S. President Joe Biden to serve as vice chair of the Fed at the White House.
Mandatory Credit: Kevin Lamarque/Reuters/File

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Biden reshuffles economic team midway through first term

President Joe Biden's economic team is taking new shape midway through his first term and as he gears up for an expected reelection bid, with the White House Tuesday officially naming Federal Reserve Vice Chair Lael Brainard as his top economic adviser and nominating Jared Bernstein to serve as his chair for the Council of Economic Advisers.