US President Joe Biden announces that his top economic advisor is set to leave the White House today. Indeed, Gene Sperling is reportedly leaving the administration in order to help Vice President Kamala Harris’ presidential campaign. Sperling is looking to help Harris overcome Donald Trump heading into the November elections.
The move comes at a rather surprising time. Concerns over a potential recession in the United States have driven panic in global markets. Both Taiwan’s and Japan’s stock markets have suffered their largest losses since 1967 and 1987, respectively.
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White House Loses Top Economic Advisor Amid Market Crash
The first Monday in August has arrived with turmoil for the global finance sector. Stock markets across the world have plummeted as concerns grow regarding the US. As an economic slowdown appears more likely, worry is abounding. Now, the US President is set to lose a trusted advisor.
Indeed, Joe Biden has announced that his top economic advisor, Gene Sperling, is set to leave the White House Today. In a statement today, Biden attributed Sperling with helping “execute a rescue plan that has led to one of the most equitable and resilient economic recovering ever.”
Source: CNN
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“Under Gene’s leadership, the Eamreicna Rescue Plan has delivered economic relief to cities and counties across the country,” Biden remarked. Moreover, the President added, “The country is stronger and more just because of the families that Gene has spent every day fighting for over the past three and a half years.”
Now, Sperling is turning his talents toward helping Kamala Harris, according to a report from AP. Indeed, he served as the director of the White House National Economy during the Bill Clinton, Barack Obama, and Biden administrations.