Is Jared Bernstein the next director of the NEC?
Who will replace Larry Summers as the director of the National Economic Council? One well-placed source of mine claims it is likely to be Jared Bernstein, currently VP Joe Biden’s economic guru.
Jared is wonderful guy whom I frequently debated on CNBC when he worked at the Economic Policy Institute. But he is definitely a pro-union, pro-tax liberal whom business would frown upon. I would guess he, like Christina Romer, also would have preferred to have seen a bigger stimulus package in 2009.
But in the traditional NEC role as a coordinator rather than a creator of economic policy — Summers is more the latter — Bernstein would probably do a fantastic job. He’s calm, personable and — like Austan Goolsbee — a wonderful explainer. But if it is not Bernstein, keep an eye out for these folks. And here are the current betting market odds (via Paddy Power):