Ladies and gents, stock markets around the world are crashing and this just happened:
Goodness I hope the Biden admin isn't withdrawing from the economy like it withdrew from Afghanistan!
The White House released this statement about Gene Sperling's departure:
When I took office, our economy was reeling, a pandemic was raging, and hundreds of thousands of small businesses across the country were at risk of shutting their doors. Having run Recovery Act implementation for President Obama, I knew I needed an American Rescue Plan Coordinator with the expertise and experience to hit the ground running. I'm glad I picked Gene Sperling.
Gene joined my administration as the only person to have ever directed the National Economic Council under two presidents, and has helped me execute a rescue plan that has led to one of the most equitable and resilient economic recoveries ever. His work helped nearly 40 million working families get unprecedented child tax cut relief and over 8 million renters get emergency assistance to help keep their families housed. Under Gene's leadership, the American Rescue Plan has delivered economic relief to cities and counties across the country, protected millions of union pensions, made the largest-ever federal investment in public safety, and kept thousands of small businesses afloat.
I also looked to Gene as a trusted advisor on the economy and gave him some of the toughest assignments, including serving as my liaison to the Big 3 automakers and UAW as autoworkers fought for - and secured - record contracts.
Bro, couldn't you guys have picked a better day?
Don't worry though: Sterling isn't going far. He's going to be working on Kamala's election campaign.
Sperling will be a senior economic adviser to Harris' policy team. The shift was revealed by White House officials who spoke on condition of anonymity to discuss personnel matters.
Biden really should have knocked on wood when he said he "cured the economy" last week!!
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