National Economic Council Director

Brian Deese

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2021-01-22 Press Briefing by Press Secretary Jen Psaki and National Economic Director Brian Deese

2021-01-22 Biden’s economic chief Deese warns of ‘very serious economic hole’ Conservatives concerned about the ballooning national debt have said they are unwilling to pass the huge bill, which comes on the heels of a $900 billion bailout Congress passed just last month.

“Our economy is at a very precious moment,” Deese said in the James S. Brady briefing room. “We are 10 million jobs short still of where the economy was when this pandemic started last year,” he said. “If we don’t act now, we will be in a much worse place and we will find ourselves needing to do much more to dig out of a much deeper hole,” he went on.

2021-01-21 National Economic Council Director Brian Deese Remarks at U.S. Conference of Mayors Winter Meeting Brian Deese, the director of the National Economic Council, discussed President Biden’s COVID-19 economic relief plan at the U.S. Conference of Mayors’ winter meeting. Also speaking at the virtual event was White House Intergovernmental Affairs Director Julie Chavez Rodriguez. Following opening remarks, mayors took part in a question and answer session with the Biden administration officials

2021-01-12 Who is Brian Deese? President-elect Joe Biden has nominated Brian Deese, global head of Sustainable Investing at BlackRock Inc. (BLK), as director of the National Economic Council (NEC).1https://183c3e75caee86abc7d378c6112873df.safeframe.googlesyndication.com/safeframe/1-0-37/html/container.html

In his new role, Deese will be responsible for the coordination of policy-making on both domestic and international economic issues. THE NEC provides economic policy advice to the president, ensuring that policy decisions and programs are in line with the president’s economic goals.2

As head of BlackRock’s Sustainable Investing division since 2017, Deese advised clients on how to achieve investment returns that meet environmental, social, and governance (ESG) criteria.3

Immediately prior to joining BlackRock, Deese was a senior fellow at the Harvard Kennedy School. He served as a White House senior advisor to President Barack Obama from 2015 to 2017. Between 2009 and 2015 he held several positions at the White House, including as special assistant for economic policy to President Obama following the 2008 financial crisis, as deputy director of the NEC, and as deputy director and acting director of the Office of Management and Budget

2021-01-10 Kamala Harris Picks Member of World’s Largest Asset Firm as Top Economic Adviser In March 2016, BlackRock CEO Larry Fink began hiring a “shadow government” of Democratic operatives and economic policy wonks. The reasoning was transparent: this coterie of revolvers would safeguard BlackRock’s interests in Washington whether or not Larry Fink was ultimately named Treasury Secretary, a role to which he long aspired and for which Barack Obama had already considered him.

Though Clinton ultimately lost the election, Fink continued hiring Democratic operatives and remained personally involved in party politics. Now, as Joe Biden prepares to enter the White House, members of the BlackRock “shadow government” are queued up for major policy roles. They include Brian Deese, who will be the next National Economic Council director, and Wally Adeyemo, who will be a top aide to Treasury Secretary nominee Janet Yellen. Yet the BlackRock figure set to join the administration with the deepest ties to both the firm and the neoliberal economic policies it benefits from won’t be serving in the White House at all, but rather as the top economic aide to Biden’s potential successor.

2020-12-03 Biden Names BlackRock’s Brian Deese As His Top Economic Aide President-elect Joe Biden has tapped former Obama aide Brian Deese as director of the National Economic Council, his top economic adviser at the White House. Deese helped former President Barack Obama rescue the auto industry during the 2009 economic crisis and played a key role in negotiating the Paris climate accords.

But the pick raised the ire of some progressive groups even before it was made official Thursday because of Deese’s work for BlackRock, the world’s largest asset manager. After his service in the Obama administration, Deese became the global head of sustainable investing at BlackRock. Progressive groups say the investment firm holds financial stakes in energy companies that contribute to climate change.

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Chief Economist to Vice President

Michael Pyle

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Mike Pyle – Institutional | BlackRock

2021-01-10 Kamala Harris Picks Member of World’s Largest Asset Firm as Top Economic Adviser The American Prospect reported on Wednesday that Mike Pyle, global chief investment strategist at BlackRock and one of the original members of Fink’s “shadow government,” will become Vice President Harris’ chief economist.

In March 2016, BlackRock CEO Larry Fink began hiring a “shadow government” of Democratic operatives and economic policy wonks. The reasoning was transparent: this coterie of revolvers would safeguard BlackRock’s interests in Washington whether or not Larry Fink was ultimately named Treasury Secretary, a role to which he long aspired and for which Barack Obama had already considered him.

BlackRock is the world’s largest asset manager, managing just under $8 trillion of assets as of September 2020, much of which is invested passively in the world’s largest companies in everything from oil to green energy to cybersecurity to infrastructure development.

Though Clinton ultimately lost the election, Fink continued hiring Democratic operatives and remained personally involved in party politics. Now, as Joe Biden prepares to enter the White House, members of the BlackRock “shadow government” are queued up for major policy roles. They include Brian Deese, who will be the next National Economic Council director, and Wally Adeyemo, who will be a top aide to Treasury Secretary nominee Janet Yellen. Yet the BlackRock figure set to join the administration with the deepest ties to both the firm and the neoliberal economic policies it benefits from won’t be serving in the White House at all, but rather as the top economic aide to Biden’s potential successor.

2021-01-06 Another BlackRock Veteran Will Join the Biden Administration

The Prospect has learned that Michael Pyle, currently the global chief investment strategist at leading asset management firm BlackRock, will become part of the Biden-Harris administration in the coming days. Pyle, an Obama administration veteran who also worked on economic policy in Hillary Clinton’s presidential campaign, will become the chief economist to Vice President–elect Kamala Harris, according to sources familiar with the transition.

Pyle would be the third former BlackRock official to join the administration. Brian Deese, who was global head of sustainable investing at the firm, has been named as Biden’s national economic director. And Wally Adeyemo, former chief of staff to BlackRock CEO Larry Fink, is the nominee for deputy Treasury secretary. Neither Deese nor Pyle would require confirmation by the Senate.

If anything, Pyle has a deeper relationship to BlackRock than his colleagues. He’s been there longer, since at least 2014. And his role as chief investment strategist is more central to BlackRock’s operations; he frequently comments on behalf of the firm in the media. BlackRock has drawn criticism for its contributions to climate change and its ability to use its influence inside governments to win favorable policies for its bottom line. It has been accused of self-enrichment while managing the Federal Reserve’s corporate-debt buying during the pandemic.

Pyle was seen as a likely candidate to re-enter the government four years ago. BlackRock recruited him from the Obama administration, where he served as a senior adviser to Undersecretary of the Treasury for International Affairs Lael Brainard. Pyle also worked at the National Economic Council and the Office of Management and Budget. He was an unpaid adviser to the Clinton campaign on financial policy, and seemed destined for a spot if Clinton won the election.

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Justice Department’s Antitrust Division Head

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2021-01-18 Big Tech Critics Alarmed at Direction of Biden Antitrust Personnel Renata Hesse, who has worked for Google and Amazon, is the leading candidate to run the Justice Department’s antitrust division.

Renata Hesse, a former Justice Department official under President Barack Obama, worked alongside Sen. Ted Cruz (R-TX) defending Google a decade ago, helped shepherd through the Amazon/Whole Foods merger, and represented several pharmaceutical companies and other clients in antitrust cases. She is the leading contender for the assistant attorney general for antitrust position, multiple sources told the Prospect and The Intercept on Friday. Sources also said that Juan Arteaga, another Obama Justice Department veteran who defended JPMorgan Chase and several other financial firms in fraud cases and represented AT&T in its merger with Time Warner, was also being considered but was more likely to be appointed deputy assistant attorney general in the antitrust division. Reuters on Sunday reported that Hesse and Arteaga were the leading candidates for AAG.

The Big Tech ties have progressives particularly exercised by the possible Hesse pick, though Arteaga’s long track record of working on behalf of consolidation is also alarming. There are active anti-monopoly cases at the antitrust division against Google and Facebook, the biggest such cases in 20 years. Hesse’s work for Google would likely force her to recuse from the former.

There is bipartisan support for reining in Big Tech and a blueprint for how to do it in an exhaustive report from the House Antitrust Subcommittee. Picking a Big Tech lawyer would open up Biden to criticism from the left and right, aside from the unusual circumstance of the top attorney in the division recusing herself from the most important case under her watch.

“Bringing in anybody from Big Tech to a leadership role in antitrust is a political, policy, and managerial disaster,” said Zephyr Teachout, author of “Break ’Em Up” and a frequent Big Tech critic, referring to Hesse. “We know how the revolving door works. The ideology of big companies shapes the ideology of government.”

2021-01-13 Biden Must Close the Revolving Door Between BigLaw and Government This week, Politico reported that Susan Davies, a corporate antitrust lawyer who has represented Facebook, was a leading contender to head Biden’s Department of Justice Antitrust Division. This news came on the heels of reports that David Frederick, a corporate lawyer who has defended oil giant Royal Dutch Shell, was under consideration to become Biden’s solicitor general. These stories have disturbed many who hope (particularly after the Democrats’ Senate victories in Georgia) that the Biden administration will represent a shift away from the corruption and self-dealing of the Trump administration.

Davies and Frederick are not the first corporate lawyers rumored to be joining the Biden team. Their private-sector work and potential nominations are emblematic of a deeper divide in the Democratic Party, seen in the criticism of figures like Neal Katyal, a well-known Democratic figure who recently fought to shield corporations for abetting child slavery while representing Nestlé in the Supreme Court. This divide boils down to one question: Should a lawyer’s previous clients be a factor in whether or not they receive a political appointment in the new administration?

Quite simply, the answer is yes. High-level legal appointees, including Biden’s picks for attorney general, deputy attorneys general, and solicitor general, will be some of the most powerful people in the nation, and their decisions in these roles will have a wide-ranging impact on the lives of the American people. These individuals should therefore be held to the highest ethical standards and face the strictest scrutiny during their hiring process. Their integrity and commitment to the public good should be impeccable.

While progressive groups have called on Biden to scrutinize potential appointees’ ties to the corporate sector, many corporate lawyers and Obama alumni have pushed back against these efforts. They claim that judging lawyers based on their clients is not merely unfair but threatens our entire legal system.

Read more from the Revolving Door Project

Eric Holder articulated the latest version of this argument in an article published last month in which he comes to the defense of Katyal. Holder claims that just as Katyal should not be held accountable for the crimes committed by the clients he defended in Guantanamo Bay, he should be immune from criticism of his defense of Nestlé’s actions.

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Chair of the Securities and Exchange Commission

Gary Gensler

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2021-01-189 What Does Gary Gensler as SEC Chief Mean for Crypto?

2021-01-18 Biden nominates Gary Gensler for SEC commissioner, Rohit Chopra to lead Consumer Financial Protection Bureau Gensler and Chopra are both allies of Massachusetts Sen. Elizabeth Warren. Currently a member of the Federal Trade Commission, Chopra will — if confirmed — return to the CFPB, where he previously worked as its top student loan watchdog. The nomination of Gensler, a former Goldman Sachs executive turned ferocious advocate for stricter regulation on big banks, is a signal that Biden’s team is poised to take a harder line with Wall Street than previous administrations.

2021-01-18 Watch out Wall Street, Gary Gensler tapped to head SEC Sources attributed the decision to the Democrats’ surprise win of the Senate during last week’s runoff elections in Georgia, allowing Biden to favor the more progressive candidate.

Only two weeks ago, people close to the Biden transition team had penciled in centrist Robert Jackson Jr. — an NYU law professor and SEC commissioner under Trump — as the SEC frontrunner because he was seen as more likely to win confirmation 

Gensler, 63, is a former partner at Goldman Sachs who joined the Clinton administration as a senior advisor to his former Goldman boss, Treasury Secretary Robert Rubin. During the George W. Bush presidency, Gensler stuck around DC as a senior Senate staffer and a key architect of the Sarbanes-Oxley regulation. 

Barack Obama put Gensler in charge of the Commodity Futures Trading Commission in 2009 where he became infamous among his former Wall Street colleagues for overhauling the regulation of derivatives that created the 2008 financial crisis. Gensler also used the CFTC to uncover and prosecute the massive Libor rate-rigging scandal. 

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Consumer Financial Protection Bureau Director

Rohit Chopra 

Rohit Chopra

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Rohit Chopra | Federal Trade Commission

2021-01-18 Biden nominates Gary Gensler for SEC commissioner, Rohit Chopra to lead Consumer Financial Protection Bureau

Gensler and Chopra are both allies of Massachusetts Sen. Elizabeth Warren. Currently a member of the Federal Trade Commission, Chopra will — if confirmed — return to the CFPB, where he previously worked as its top student loan watchdog. The nomination of Gensler, a former Goldman Sachs executive turned ferocious advocate for stricter regulation on big banks, is a signal that Biden’s team is poised to take a harder line with Wall Street than previous administrations.The choices are a victory for the Democratic Party’s progressive wing, which has led the charge for more aggressive oversight of the financial industry. Chopra was in on the ground floor with Warren, who built the CFPB as part of the Dodd-Frank law passed in response to the 2008 financial crisis. Gensler worked in the Obama administration for a time as the chairman of the Commodity Futures Trading Commission, where he earned a reputation as a hardliner on regulatory matters.

2021-01-17 Biden taps Warren ally Chopra to lead Consumer Bureau If confirmed, Chopra, now a member of the Federal Trade Commission, would be returning to helm an agency he helped Warren set up after its establishment by the landmark Dodd-Frank financial reform law of 2010.

2021-01-17 Biden picks Rohit Chopra to lead consumer protection agency Chopra, a member of the Federal Trade Commission, helped launch the agency in 2011 and previously served as its assistant director.

He is an ally of Sen. Elizabeth Warren, D-Mass., who proposed and built the consumer-focused agency. He is also backed by progressive groups. Bloomberg first reported Chopra’s selection. Among those who applauded the move Sunday were Randi Weingarten, leader of the American Federation of Teachers, and the consumer advocacy organization Public Citizen, which called him a “fantastic pick who will return the agency to its days of actually fighting for consumers.”

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2021-01-22 The Chopra Gambit On Monday, President Biden announced his intention to name Federal Trade Commissioner Rohit Chopra as the Consumer Financial Protection Bureau’s next director, earning a rare, unqualified cheer from the party’s left flank. Despite serving in the minority on the FTC, Chopra has managed to have a ground-shaking impact, earning a reputation for skillful and creative maneuvering. It is encouraging to see his dogged work for the public interest rewarded and the CFPB land in such capable hands. Just elevating Chopra, however, is not enough. If Democrats are serious about good governance and building their party’s power, they must look to the institutional features that provided Chopra with a platform and honed his governing skills so that, moving forward, he is not such a lonely figure.

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Office of the Comptroller of the Currency

2021-01-22 Fintech Loves This Rumored Biden Nominee A leading contender to run the Office of the Comptroller of the Currency, Michael Barr, has a particular cheering section among the shadiest of online financial operators.

Barr’s name is familiar, but that is not a good thing. Keeping the former Tim Geithner–era Treasury Department official from confirmation to a Federal Reserve Board of Governors position became a heated and ultimately successful campaign for progressives in 2014. Barr was a key figure in the crafting of the Dodd-Frank financial reform, and a willing destroyer of more progressive ideas for it, on behalf of the Obama administration. His rumored appointment is particularly dispiriting for progressives who hoped that Mehrsa Baradaran, a law professor and expert on the racial wealth gap, would win the OCC appointment.

Jubilant at Barr’s elevation, however, are the fintech and cryptocurrency sectors. “Fintech” refers to the quickly burgeoning world of borrowing and financial services apps that often look and act as predatory as payday lenders but have much snappier graphic design. “Crypto” is shorthand for the smattering of unregulated digital currencies currently being pumped and dumped and used for money laundering, among other things. Fintech luminaries, publications, and cryptocurrency mavens across the board are cheering the possible appointment of the person who should, in theory, be tasked with regulating them.

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CIA Director

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National Security Advisor

Jake Sullivan

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2021-01-18 Biden’s incoming national security adviser calls for Alexei Navalny’s release “Mr. Navalny should be immediately released, and the perpetrators of the outrageous attack on his life must be held accountable. The Kremlin’s attacks on Mr. Navalny are not just a violation of human rights, but an affront to the Russian people who want their voices heard,” Jake Sullivan wrote on Twitter on Sunday.  

2020-12-29 Jake Sullivan On Biden Administration’s Approach To National Security

2020-11-27 The inexorable rise of Jake Sullivan “So in the end he’s the only human being who went to 112 countries with Hillary. His capacity for work is just that annoying,” Philippe Reines joked in an interview, one of a dozen for this story.

All that work has clearly paid off: Sullivan, now 43, will be the youngest national security adviser in nearly 60 years when President-elect Joe Biden is inaugurated in January — in what those who know him described as an almost-inevitable next step for a man who’s always seemed preternaturally older than his actual age.

After holding top positions at the State Department and in the Obama White House and playing a key role in negotiating the Iran nuclear deal, it’s clear Sullivan is “on the Benjamin Button track,” Reines said, referring to the F. Scott Fitzgerald character who is born into an old man’s body and ages backward. “He is the equivalent of at least a decade, if not two, beyond his biological years.”

2020-11-23 US should encourage China’s rise, Biden national security pick Jake Sullivan says “We need to strike a middle course – one that encourages China’s rise in a manner consistent with an open, fair, rules-based, regional order,” Sullivan said. “This will require care and prudence and strategic foresight, and maybe even more basically it will require sustained attention. It may not have escaped your notice that these are not in ample supply in Washington right now.”

During the same lecture, Sullivan said China policy needs to be about more than just bilateral ties, “it needs to be about our ties to the region that create an environment more conducive to a peaceful and positive sum Chinese rise,” he said.

2020-11-23 Why national security adviser designate Jake Sullivan will be celebrated in China, Iran, and Russia According to multiple reports, including the Washington Examiner’s Naomi Lim, later on Monday, President-elect Joe Biden seems set to copy President Trump’s first mistake and appoint an ill-suited national security adviser.

Vice President Joe Biden’s national security adviser between 2013 and 2014, and Hillary Clinton’s top foreign policy adviser in 2016, Sullivan is a very smart guy and a dedicated patriot. Still, I believe his selection will be received favorably in Moscow, Tehran, and Beijing for all the wrong reasons (North Korea is a curve ball). That may seem like an unfair jab at the 43 year-old, but based on his record and the present national security priorities of each of those governments, it’s not an unfair one. After all, Sullivan was a key architect of the Obama administration’s too-deferential foreign policy structures. Which is to say, its willingness to play softball in the 2013-2015 nuclear negotiations which culminated with the 2015 JCPOA nuclear deal, its appeasement of China, and its failure to counter exponential increases in Russian aggression.

For all of his idiotic praise of Vladimir Putin, President Trump has presided over a strengthened NATO, the delivery of lethal arms to Ukraine (which Obama opposed), and the authorization of more aggressive intelligence operations against Moscow.

Sullivan has a less auspicious record towards Vladimir’s crew. For all the Democratic Party talking points that Trump is Putin’s pet, in an August 2016 interview with the New Yorker, Sullivan offered absurdly optimistic tones on how the U.S. could compromise with Moscow. He said this even as he noted that the Russians were interfering with the 2016 election. Why no call to shutdown the GRU’s mainframes? Or expel the Russian ambassador? Or at least leave some reciprocal gifts in the D.C. apartments of Russian intelligence officers?

2020-11-23 Joe Biden Appoints Minneapolis Native Jake Sullivan As National Security Advisor

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Press Secretary – Biden 2021

Jen Psaki

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2021-01-22 National Economic Council director says “decisive action” necessary to prevent further financial fallout White House press secretary Jen Psaki and National Economic Council director Brian Deese held a press briefing on President Joe Biden’s second full day in office to discuss economic relief plans.

Psaki and Deese discussed the president’s $1.9 trillion coronavirus aid proposal. The package includes $400 billion for efforts to stop the spread of COVID-19 and increase vaccine distribution; over $1 trillion to assist families needing direct financial support; and $440 billion in emergency funds for cash-poor small businesses and communities. The White House’s plan, which Mr. Biden said he plans to send to Congress soon, includes additional $1,400 direct payments to millions of Americans, on top of the $600 payments approved in December under the previous Congress. 

Deese said “decisive action” is needed to prevent further financial fallout from the pandemic. “We’re at a precarious moment for the virus and the economy,” he warned. “Without decisive action, we risk falling into a very serious economic hole, even more serious than the crisis we find ourselves in.”

2021-01-20 Who is Jen Psaki, White House Press Secretary for Joe Biden? President Biden’s press secretary, Jen Psaki, held the first media briefing of his administration after his inauguration Wednesday evening, vowing to bring “truth and transparency” back to the White House.

Psaki, a veteran of Democratic campaigns and administrations, will be the face of the all-female senior White House communications team as Biden settles into his presidency.

Psaki, who was raised in Connecticut, has worked for Democrats in Washington since at least 2004, when she served in John Kerry’s presidential campaign.

From there, she moved onto both of President Obama’s campaigns and served as the top State Department spokesperson during his second term. By the end of Obama’s time in office, she had graduated to be his communications director starting in 2014.

She did not work for Biden’s 2020 campaign, and instead worked as a CNN political commentator and private public relations adviser, according to the report.

2020-11-30 Inside the unlikely return of Jen Psaki Psaki’s ascension to the top spokesperson’s role — one that she wanted and for which she was twice a runner-up for in the Obama administration — fits with the president-elect’s pattern of turning to experienced Washington operatives to fill the top positions in his administration. And it signals Biden’s intention to run a White House free of the kind of briefing-room drama that defined his predecessor’s tenure, from Sean Spicer’s claims about the size of Trump’s inauguration crowd to Kayleigh McEnany’s misleading statements about the pandemic.

Ultimately, Psaki beat out other top contenders for the role, including Symone Sanders and Karine Jean-Pierre, because of her strong rapport with the former vice president combined with her expertise on economic and foreign policy issues and her experience conducting high-profile press briefings, multiple people familiar with the selection said.

“She is an ideal choice for them for a job that’s really hard to fill,” said Jennifer Palmieri, a former communications director in the Obama White House. “It’s hard to find someone that has credibility, the press likes, will mesh well with the White House staff and can speak about foreign policy and national security issues with a lot of credibility.”

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Communications Director

Kate Bedingfield

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2021-01-22 Kate Bedingfield: What to know about the White House communications director Bedingfield then moved to Washington, D.C., where she served as the regional press secretary for the Democratic Congressional Campaign Committee in 2006 when Democrats won the U.S. House of Representatives

In 2008, she worked as the deputy national press secretary for John Edwards’ presidential campaign and as communications director on Democratic New Hampshire Sen. Jeanne Shaheen’s Senate campaign.

In the Obama administration, Bedingfield wore many hats — serving as communications director and associate communications director for then-Vice President Joe Biden and as the deputy director of media affairs and the director of response.

More recently, Bedingfield worked for Biden as his deputy campaign manager and communications director during the 2020 presidential election

Outside of politics, Bedingfield was the chief spokeswoman and vice president of corporate communications at the Motion Picture Association of America (MPAA) and the vice president of communications at Monumental Sports & Entertainment.

2021-01-21 White House communications director: ‘Biden is not going to be breaking news at 1am on Twitter’ White House Communications Director Kate Bedingfield emphasized that President Biden will not seek to “out-do” former President Trump in either the tone or the frequency of his social media use.

Bedingfield said in an interview with 19th News published Thursday. “Trump gathered so many followers and generated so many clicks by putting forth this really divisive, often hate-filled shock content. So, we were never going to try to out-do him in that, that’s not true to who President Biden is.”

2021-01-20 Kate Bedingfield, Biden’s Communications Director: 5 Fast Facts You Need to Know Kate Bedingfield Represented John Edwards During the 2008 Primary Before Joining the Obama Administration. Bedingfield Left Politics to Represent the Film Industry in 2011. Biden Hired Bedingfield as His Communications Director in 2015 But She Returned to the Private Sector After the 2016 Election. Bedingfield Managed Biden’s Messaging Strategy Primarily From Home & Says Her Two Children Often Interrupted Zoom Calls With Biden. Bedingfield Has Been Married to Husband David Kieve Since 2013 & She Grew Up in an Atlanta Suburb

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