Biden’s Pick for Treasury Will Be Telling

Washington Post: “A leading candidate for the post is Federal Reserve governor Lael Brainard, who served as a senior Treasury Department official in the Obama administration. Brainard has broad policymaking experience, particularly during economic crises, as well as wide respect among international foreign ministries and central banks from her time as the department’s top diplomat.”

“At the same time, Biden could face pressure from the Democratic Party’s left wing to pick a more liberal figure, someone who could push for aggressive financial overhauls and prove more adversarial to supporters of free trade. Such a nominee, however, could face difficulty winning Senate confirmation if Republicans retain control.”