The White House said Janet Yellen and Brian Deese are not part of a planned shake-up following the November elections.
According to the Washington Examiner, Biden’s press secretary said the White House is planning for transitions, but the two economic advisers will not be involved in the post-midterm reorganization.
Biden’s plans to keep both staffers on board is quite unusual, given the historical trend of Presidents switching up their economic team usually two years into their term.
As noted by Yahoo Finance, it is quite common for the economic team to turnover two years into a new administration. For example, both Bill Clinton and George W. Bush had to replace all three members of their economic teams two years in. Both Clinton and Bush were elected to second terms.
With the way the economy stands today, you’d think that Biden would be reconsidering his plans to keep both Deese and Yellen if he even thinks he has a shot of winning in 2024.
Take this for an example: Instead of offering solutions to the sky-high gas prices, Secretary Yellen recently flat out admitted that prices will further increase this winter.
Brian Deese was also recently asked about the gas prices, to which he replied, “This is about the future of the Liberal World Order and we have to stand firm”