President Biden's widely anticipated selection of Fed vice chair Lael Brainard to lead the White House economic team makes perfect sense from just about every angle and was largely praised in economic circles. It was kind of a no-brainer, really, considering Brainard's resume and reputation. But the move leaves a big gap at the Fed at a time when inflation is the top economic concern and the Fed is best positioned to provide leadership and guidance at exactly this inflection point.
In this week's Cabinet News and Views, I take a closer look at the Brainard departure from the Fed, along with the 2023 Dodd-Frank Act Stress Test scenarios. We also examine an important Advisory Opinion from the CFPB on mortgage comparison-shopping web sites, a warning from the FCA on cryptoassets, and the European Central Bank's continued focus on climate.
Lots to talk about and debate, so, as always, I welcome your comments and questions. Just drop me a line here if you'd like to discuss.
Daniel Meade
Editor, Cabinet News and Views