Brian Deese, National Economic Council director and economic adviser to President Joe Biden, will depart by next summer, the Daily Caller reported. The president has attempted to scapegoat Deese for the record inflation sweeping the nation.
The news comes after Biden reportedly chastised Deese during several meetings for his failure to predict how significantly inflation would impact the economy. Still, Biden and other officials have claimed that they are against Deese's leaving, suggesting perhaps this outrage was for show.
Deese previously served under former President Barack Obama as an energy and climate adviser while Biden was vice president. He was also the deputy director of the National Economic Council at the time.
When he joined the Biden administration, Deese was employed in the private sector at Blackrock. Republicans have called out the asset-management firm over its decision to divest from fossil fuels, and GOP state treasurers have committed to withdrawing some $1 billion of investments from the firm.
Some names being bandied about for Deese's replacement include Deputy Treasury Secretary Wally Adeyemo. Another candidate expected to throw his hat in the ring is Gene Sperling, a senior advisor, and coordinator for pandemic relief measures.
Also set to leave the administration is Council of Economic Advisers chair, Cecelia Rouse, who was the first African-American to hold that position. She will likely leave her post as a high-level economic adviser for the administration to return to academia before the year is up or shortly thereafter.
Experts are expecting other departures now that the midterms are over, Reuters reported. However, Deese had claimed he wasn't planning to leave as recently as September.
The White House has disputed the timeline as well, despite several reports about Deese's departure. "There is no timeline for Brian's departure, and the President and Brian's colleagues want to keep it that way," an unnamed official told the news outlet.
These high-profile exits come ahead of what experts predict is a looming deep recession. According to Bloomberg last month, economists predicted a 100% chance of an economic downturn in the next 12 months -- or sooner.
Biden created these conditions with a series of terrible policies. Almost immediately after he took office. Biden nixed the Keystone XL pipeline and canceled drilling permits, moves which the radical environmentalists lauded but which compound rising energy costs.
The feds have tried to soften the blow by raising interest rates in the hopes of slowing inflation, Fox Business News reported. However, that has backfired as the hiring and housing markets respond negatively to such moves.
Personnel turnover isn't always a sign of distress. However, when coupled with an economy clearly in peril, Deese and others may look to abandon ship before it hits the iceberg.