Daleep Singh

Daleep Singh (born March 12, 1976) is an American economic advisor who was a Deputy National Security Advisor for International Economics in the Biden administration and later joined PGIM Fixed Income in June 2022 as chief global economist.

He is one of the primary architects of the sanctions package that the US implemented on Russia after Russia invaded Ukraine in 2022 and has been at the forefront of designing "economic statecraft" at the intersection of economic policy and national security.

Early life and education

Singh was born to a Sikh family in Olney, Maryland and raised in Raleigh, North Carolina. His great-granduncle was the first Asian American elected to Congress, Dalip Singh Saund. Singh earned a Bachelor of Arts degree in economics and public policy from Duke University, followed by a dual Master of Business Administration and Master of Public Administration in international economics from the Massachusetts Institute of Technology and the Harvard Kennedy School.

Career

During the most acute phase of the Covid pandemic in 2020, Singh was Executive Vice President and Head of the Markets Group at the Federal Reserve Bank of New York. In this capacity, Singh was reportedly responsible for implementing most of the emergency lending programs put in place by the Federal Reserve to backstop the economy. He was also deputy assistant secretary of the Treasury for international affairs and acting Assistant Secretary of the Treasury for Financial Markets in the Obama administration, spearheading the Department's response to Greece's near exit from the euro area in 2015 and advocating for reforms to bolster the resilience of Treasury markets.

He was appointed by President Biden as Deputy National Security Advisor at the National Security Council and deputy director of the National Economic Council in mid-February 2021.

Before the invasion of Ukraine, Singh led the Administration’s efforts to launch a democratic alternative to China’s Belt and Road Initiative, craft a digital assets strategy, develop a global pandemic preparedness fund, and reform the World Bank.

Russia's invasion of Ukraine

After the Russian invasion of Ukraine in late February 2022, Singh emerged as a chief architect of the economic sanctions imposed by the United States on Russia, detailing the Administration's design and strategy in multiple press briefings from the White House podium and press interviews, including a feature story on 60 minutes. Singh identified that the Russian economy was dependent on Western cutting-edge technologies such as microchips and software and that the Russian economy was vulnerable to a sudden stop of overseas capital. He pushed for and coordinated the sanctions measures taken against Russia's central bank, as the US, EU, UK, Japan, and Canada prohibited any dealings with the entity only two days after the invasion began. According to the ''New Yorker'', "No entity as large as the Russian Central Bank, nor so important to the global economy, had been sanctioned in modern times."

Singh began "an extended leave of absence" from the White House beginning in May 2022, the ''Washington Post'' reported. Since leaving the White House, Singh has testified to Congress on the Russia sanctions regime, argued in favor of "freedom bonds"for Ukraine (inspired by the Brady plan), and continued to advocate forcefully in favor of a digital dollar.

In December 2022, Singh was named to the Bloomberg 50 list of individuals who most influenced the global business landscape.

References

1970s births
Living people
American Sikhs
Biden administration personnel
Duke University alumni
Harvard Kennedy School alumni
Massachusetts Institute of Technology alumni
People from Olney, Maryland
People from Raleigh, North Carolina
United States Deputy National Security Advisors
American politicians of Indian descent
{{US-economist-stub