Lael Brainard, an American economist, served as the 14th director of the National Economic Council from 2023 to 2025. Her public service career includes high-level roles within the federal government, spanning international finance diplomacy, monetary policy oversight, and strategic economic advising for multiple presidential administrations across several decades.
Academic and Early Professional Background
Born in 1962 in Hamburg, Brainard attended the Bonn American High School and the George School before earning her Bachelor of Arts from Wesleyan University. She subsequently attained her master and doctoral degrees in economics from Harvard University. Her early career involved private sector advisory work at McKinsey & Company. Between 1990 and 1996, she served as an assistant and associate professor of Applied Economics at the MIT Sloan School of Management, focusing her research on trade policies, offshore production, and unemployment measurement.
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During the Clinton administration, Brainard functioned as deputy national economic advisor. She coordinated APEC meetings and facilitated China's entry into the World Trade Organization. Later, as Under Secretary of the Treasury for International Affairs from 2010 to 2013, she managed currency relations with China and navigated the euro area debt crisis. She held positions as the U.S. representative to G-20 and G-7 finance deputies, later receiving the Alexander Hamilton Award for this work.
Federal Reserve Leadership
Brainard joined the Federal Reserve Board of Governors in 2014. In 2022, she was confirmed as the 22nd Vice Chair of the Federal Reserve. Throughout her tenure at the Fed, she chaired committees on financial stability, consumer affairs, and payment systems. She concluded her service at the central bank in February 2023.
National Economic Council
In February 2023, President Biden appointed Brainard as Director of the National Economic Council, succeeding Brian Deese. In this capacity, she oversaw the White House Competition Council. This role represented a continuation of her involvement in high-level economic strategy, building upon her previous work at the Brookings Institution and her earlier stint as deputy director of the National Economic Council.
Fast facts
- Born: 1962, Hamburg
- Citizenship: United States
- Education: Harvard University, Wesleyan University
- Vice Chair of the Federal Reserve: 2022-2023
- Director of the National Economic Council: 2023-2025
- Under Secretary of the Treasury: 2010-2013
- Awards: Marshall Scholarship, Alexander Hamilton Award
- Languages: English
Questions readers ask
What academic institutions did Lael Brainard attend?
She studied at Bonn American High School, the George School, Wesleyan University, and Harvard University.
Which major government roles has Brainard held?
She served as Under Secretary of the Treasury, Vice Chair of the Federal Reserve, and Director of the National Economic Council.
Achievements
- Affiliated with Massachusetts Institute of Technology and MIT Sloan School of Management
- Educated at Wesleyan University and Harvard University
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