Daleep Singh will also serve as Deputy National Economic Council Director in addition to his position as the Deputy National Security Advisor.
President Joe Biden plans to name Head of the Markets Group at the Federal Reserve Bank of New York Daleep Singh as his Deputy National Security Adviser. The Federal Reserve Bank of New York released a statement on February 5, that stated that Singh has stepped down from his role at the bank and will be joining the Biden administration in mid-February.
In the Biden administration, Singh will also serve as Deputy National Economic Council Director in addition to his position on the National Security Agency. He will be reporting to both National Security Adviser Jake Sullivan and National Economic Council Director Brian Deese.
The BloombergQuint reported that in an email statement, Sullivan said: “Daleep will be tasked with refocusing US international economic policy on the needs of working Americans.”
Previously, from 2011 to 2017, Singh served as Acting Assistant Secretary for Financial Markets and Deputy Assistant Secretary for International Affairs at the US Department of the Treasury in the Barack Obama administration. During his tenure, he helped in shaping the Treasury Department’s crisis response to Ukraine, Russia, Greece, and Puerto Rico.
Singh oversaw the implementation of the New York Fed’s emergency facilities during the Covid-19 pandemic. He joined the New York Fed in February 2020. In his role as the Head of the Markets Group, he worked on bringing together policy, strategy, analysis, and operational effectiveness. He was also a member of the Executive Committee.
President and CEO of the New York Fed John C Williams said: “Over the past year, Daleep has played a critical leadership role in the emergency facilities the Fed launched in response to Covid-19. I’m thrilled that he will continue to leverage his knowledge and expertise in support of economic policy at this important time.”