Lael Brainard took office as a member of the Board of Governors of the Federal Reserve System on June 16, 2014, to fill an unexpired term ending January 31, 2026. Prior to her appointment to the Board, Dr. Brainard served as Under Secretary of the U.S. Department of the Treasury from 2010 to 2013 and counselor to the Secretary of the Treasury in 2009. During this time, she was the U.S. representative to the G-20 Finance Deputies and G-7 Deputies and was a member of the Financial Stability Board. From 2001 to 2008, Dr. Brainard was vice president and the founding director of the Global Economy and Development Program and held the Bernard L. Schwartz Chair at the Brookings Institution. She served as the deputy national economic adviser and deputy assistant to President Clinton. She also served as President Clinton’s personal representative to the G-7/G-8. Previously, Dr. Brainard worked in management consulting at McKinsey & Company. She received a BA from Wesleyan University in 1983. She received an MS and a PhD in economics in 1989 from Harvard University.
Matthew R. Lee
Inner City Press, 3 May 2019
When BB&T announced a $66 billion proposal to take over Suntrust Bank, which would close a still undisclosed number of branches and extend BB&T disparate lending patterns, many linked it to deregulatory moves in Washington. Then two days after Federal Reserve Governor Lael Brainard was asked by Inner City Press about the Fed’s lax review of previous mergers, including WSFS on which the Fed still hasn’t ruled on the bank’s withholding of information after rubber stamping the deal, the Fed announced public hearings. But the fix it seems it still in.