Lael Brainard is a 59-year-old American economist who has served on the Federal Reserve Board of Governors since 2014.
Lael was born in Hamburg, Germany, on 1 January 1969 to Al Brainard, an American foreign-service officer, and Joanne Brainard. She grew up in West Germany and moved to Poland before the revolutions of 1989 and the fall of the Berlin Wall.
She then moved to the US and graduated from Wesleyan University with a bachelor of arts degree from the College of Social Studies. Lael went on to receive her Masters and PhD in economics from Harvard University in 1989.
Lael Brainard’s career
The president has picked Lael Brainard to be vice-chair of the Federal Reserve, which is a very powerful economic position. Alongside her will be chairman Jerome Powell, who will lead the Fed for a second term.
Her role will involve getting the economy moving again, especially after the effects of lock-down. She has previously spoken about how to tackle racial disparities highlighted by the covid-19 pandemic.
Lael is also an advocate for climate change and creating a “fairer economy”. Senate Banking Committee chairman Sherrod Brown said: “Dr Lael Brainard has spent her life fighting for a stronger, fairer economy – one where workers share in the growth and prosperity they create and where their hard work isn’t gambled away by reckless Wall Street banks.”
Family life of Fed vice-chair pick
Lael has three children – Ciara, Caelan and Chloe – with husband Kurt M Campbell.
She married Kurt in 1998. He is an American diplomat and businessman. During Barack Obama’s presidency he was also Assistant Secretary of State for East Asian and Pacific Affairs.
Lael Brainard net worth explored
Lael Brainard has a net worth of $1.6 million, according to Wiki.
The economist would have earned a lot of money as Under Secretary for International Affairs and as the administrative governor. However, as the new vice-chair of the Federal Reserve, her net worth will undoubtedly increase.
Blessing Iyamadiken loves the art of storytelling and enjoys creating all types of content from news to entertainment. She is also a feminist and very passionate about Gender Equality. In her spare time, she loves to read or binge on Netflix.
