November 18, 2009

Kerry Supports Lael Brainard as Next Under Secretary of the Treasury for International Affairs

WASHINGTON, D.C. - Senator John Kerry (D-Mass.), senior member of the Finance Committee and Chairman of the Foreign Relations Committee, today urged the swift confirmation of President Barack Obama's nominee to be the next Under Secretary of the Treasury for International Affairs, Lael Brainard.

"Eight months of a vetting process is more than enough when no questions persist. In fact, questions and questions have been answered, and answered, and answered, and they have been answered satisfactorily. What remains is what was true when she was nominated: Lael Brainard's deep understanding of the intersections between international relations, economics, and competitiveness is exactly what's needed at the Department of Treasury at a time of immense global financial challenges," said Kerry. "It is beyond dispute that all taxes, interest, and penalties have been paid, and everyone she and her husband hired at home have been legal. It's past time to confirm Lael Brainard to this critical post at a critical time."

Brainard attended Wesleyan University before receiving a Master's and Doctorate in Economics from Harvard University. A former White House and Council on Foreign Relations Fellow, she served as Deputy National Economic Adviser to President Bill Clinton during the Asian financial crisis in the late 1990s. Brainard currently serves as Vice President and Founding Director of the Global Economy and Development Program at the Brookings Institution.

Among a host of responsibilities, the Under Secretary overseas American policies towards multilateral development banks such as the International Monetary Fund and the World Bank. Senator Kerry addressed the World Bank this afternoon to discuss the global challenges of climate change and energy poverty.