Biden's top economic adviser to leave White House

• Biden did not offer a timetable for Deese's departure or provide details on a successor.

The big picture: Deese's exit "was long planned," according to the New York Times. He had been commuting from New England to Washington, D.C., for the role since last summer, the paper reported.

What they're saying: Biden said that Deese was "critical" to the passage of the president's economic agenda, including the $1.9 trillion American Rescue Plan.

• "He has helped steer my economic vision into reality, and managed the transition of our historic economic recovery to steady and stable growth," Biden said.

What's next: Biden administration officials expect Biden to appoint Lael Brainard, currently the vice chair of the Fed, as Deese's replacement, but there hasn't been a formal internal announcement.

• One concern for the White House is leaving an opening on the Fed, where Brainard's replacement would need to be confirmed by the Senate.

Go deeper: What a Brainard departure would mean for the Fed