White House COVID-19 Response Coordinator Jeff Zients removes a face mask as he prepares to speak at a press briefing at the White House, April 13, 2021, in Washington. (AP Photo/Patrick Semansky, File)
President Joe Biden is expected to tap Jeff Zients, the administration’s former COVID-19 response coordinator, as his next chief of staff.
Biden’s current chief of staff, Ron Klain, is likely to leave the job following Biden’s State of the Union address on Feb. 7, The New York Times reported. Klain has held the position for the past two years.
The chief of staff heads the Executive Office of the President and is a cabinet position widely recognized as one of the most important, influential jobs in the White House. The details of the role differ across administrations, but generally, the chief of staff serves as the President’s primary aide and adviser across many different fronts.
For example, the chief of staff oversees the President’s daily operations as well as broader policy development. The staffer in the role also maintains the president’s schedule, advises the president on policy, hires and organizes staff, and controls the flow of information to the president, among other duties.
In his previous role Zients helped increase the distribution of COVID-19 vaccines, but left the administration last April. Prior to that he held several positions under President Barack Obama, including director of the National Economic Council.
If appointed, Zients would begin the role at a critical time for Biden as he may soon announce his 2024 reelection bid and faces a special counsel investigation over mishandled classified documents.
Rebecca Walser, President of Walser Wealth Management, joins Cheddar News' Closing Bell, where she discusses the factors behind Monday's surge on Wall Street and explains why investors will likely experience volatility in the market throughout the month of December.
Cheddar's Chloe Aiello joined "Closing Bell" to break down the progress of the SAFE Banking Act in Congress as cannabis businesses operators struggle to find financial institutions that will service them. Banks face steep federal penalties, including the risk of losing a bank charter, if found to be servicing marijuana businesses even if their state has legalized operations. Aiello reported that while there was some bipartisan support for the measure in the Senate, the bill faces some opposition from conservatives with "longstanding concerns" about cannabis and progressives who prefer a more comprehensive approach to reform.
Head of Instagram Adam Mosseri is slated to testify this week in front of the Senate Commerce Subcommittee after a Wall Street Journal report that found the Meta-owned social media platform is negatively impacting the mental wellness of teen girls.
Chinese regulators are reportedly behind China-based ride-hailing company DiDi exiting from the New York Stock Exchange, just days after listing earlier this year. The regulators stated prior that DiDi had not received the necessary clearances to list in the states. Gordon Chang, Asian affairs expert, joined Cheddar to break down what the delisting says about the relationship between nations. "This really strikes me as an attempt to really to force a decoupling of China and the U.S. in the financial markets," Chang said.
U.S. Futures were pointing to a higher open to round out the week despite a miss on the November Jobs Report, which showed slower job growth than expected-- and as the omicron variant continues to spread across the country. Patrick Healey, Founder & President at Caliber Financial Partners joined Cheddar's Opening Bell to discuss.
Just days after the detection of the Omicron variant, the World Health Organization has agreed to start the process of establishing a global pandemic treaty or accord. Amy Maxmen, senior reporter for Nature, and Dr. Samuel Scarpino, managing director for the Rockefeller Foundation's Pandemic Prevention Institute, joined Cheddar to discuss this effort and what lessons can be learned from the many COVID-19 failures as the world prepares for future pandemics.
It's a mixed bag for the November jobs report. Hiring slowed last month as employers only added 210,000 jobs, massively missing the estimate of 550,000. But there was one bright spot: the unemployment rate fell to 4.2%, with the number of unemployed people dropping to 6.9 million. Both of those numbers are considerably down from their highs at the end of the 2020 recession. Heather Boushey, a member of President Biden's Council of Economic Advisers, joined Cheddar to discuss the report and the state of the country's ongoing economic recovery.
