Biden’s Top Economic Steps Down As Stock Market Crashes

Biden’s top economic adviser has announced he will leave the White House.

The White House announced on Monday that Biden’s top economic adviser, Gene Sperling, would step down from his position at the White House.

Sperling’s move comes as the U.S. and Global Stock Market have plunged at unprecedented levels.

Sperling, however, already has a job lined up.

The Washington Times reported Sperling will now serve as a top economic adviser to Kamala Harris as she runs for President.

🚨 Senior Biden Harris economic advisor Gene Sperling is resigning TODAY

This could be a REALLY bad sign of what’s to come.

Buckle up. pic.twitter.com/QPn1ErZigV

— Nick Sortor (@nicksortor) August 5, 2024

Here’s what The Washington Times reported:

For the second time in as many weeks, a top adviser to President Biden is leaving the White House to focus on Vice President Kamala Harris’ presidential campaign.

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The White House announced Monday that senior economic adviser Gene Sperling is stepping down to take the same role on Ms. Harris’ campaign.

Mr. Sperling has a strong working relationship with Ms. Harris, having partnered with her when she was the California attorney general and she worked in the Obama administration. He also served as an outside adviser during Ms. Harris’ time in the Senate, and the two worked closely on economic policy in the Biden administration.

In a statement, Mr. Biden said he made the right choice when he picked Mr. Sperling to help address the economic devastation caused by the COVID-19 pandemic.

“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,” Mr. Biden said.

“Under Gene’s leadership, the American Rescue Plan has delivered economic relief to cities and counties across the country, protected millions of union pensions and made the largest-ever federal investment in public safety and kept thousands of small businesses afloat.”

BREAKING: Biden's economic advisor Gene Sperling steps down. pic.twitter.com/GibB9kkXw8

— The General (@GeneralMCNews) August 5, 2024

Here’s what The Daily Wire reported:

As U.S. stock markets took a nosedive, news broke on Monday morning that senior economics adviser Gene Sperling was leaving the White House.

Sources told the Associated Press that Sperling was transitioning to Vice President Kamala Harris‘ presidential campaign after President Joe Biden ended his re-election bid and Harris clinched the Democratic Party’s presidential nomination.

While the report couched Sperling’s move as one to “challenge” former President Donald Trump on policy issues, many on social media noted the timing. The Dow, S&P 500, and Nasdaq indexes all dropped in the morning hours amid what The Wall Street Journal called a “global selloff.”

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“Heck of a day for Biden’s economic advisor Gene Sperling to leave,” The Daily Mail senior political reporter Charlie Spiering said in a post to X.