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Then-Vice President Joe Biden greets retiring Sen. Harry Reid during a portrait unveiling ceremony for Reid in the Russell Building on Dec. 8, 2016. Photo: Tom Williams/CQ Roll Call via Getty Images

President Biden will attend former Senate Majority Leader Harry Reid's (D-Nev.) funeral on Saturday, the White House said Tuesday.

The big picture: Reid died on Dec. 29 at 82 after battling pancreatic cancer. The influential politician, who retired after 30 years in Congress, served with Biden for decades and cultivated a close friendship with the president.

  • "Harry met the marker for what I’ve always believed is the most important thing by which you can measure a person — their action and their word," Biden said in a statement after Reid's death.
  • Biden and first lady Jill Biden are set to travel to Las Vegas for the memorial service.
  • Reid will lie in state in the Capitol Rotunda during the week of Jan. 10.

Go deeper

Biden names Sarah Bloom Raskin as Fed's top banking regulator

Sarah Bloom Raskin during a Fed meeting in 2013. Photo: Andrew Harrer/Bloomberg via Getty Images

President Biden will nominate Sarah Bloom Raskin as the Federal Reserve's top Wall Street cop, a Biden administration official said, one of three nominees being unveiled for the critical open seats on the central bank's board of governors.

Why it matters: It's Biden's biggest mark yet on the influential economic body that's center stage as the country grapples with inflation rising at the fastest pace in decades and a recovering labor market.

Why 401(k) rollovers are so annoying

Illustration: Aïda Amer/Axios

If you happened to change jobs recently, you may have tried to transfer your retirement account from your former employer into an Individual Retirement Account or your new employer's 401(k) plan. If so, you probably encountered a bureaucratic gantlet — and you're not alone.

Why it matters: Kludgey processes around retirement account transfers result in people losing track of their funds, giving up important tax advantages, or otherwise disadvantaging themselves and being less prepared for retirement.

The hard math behind America's labor shortage

Data: Bureau of Labor Statistics, Congressional Budget Office; Chart: Axios Visuals

Yes, the pandemic has created unusual temporary labor market dynamics. But in the bigger picture, the 2010s were a golden age for companies seeking cheap labor. The 2020s are not.

The big picture: In the 2010s, the massive millennial generation was entering the workforce, the massive baby bo0m generation was still hard at work, and there was a multi-year hangover from the deep recession caused by the global financial crisis.