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President Biden prepares to name Leo Brainerd to lead the National Economic Council,

plus Blackstone's retail investor Pivot leaves it bruised, and why China's consumer-led

economic rebound may not buoy the rest of the world enough to prevent a global recession.

The country's and industries that benefit a lot from the traditional Chinese recovery,

the investment led recovery. Those are probably the sectors that are maybe good to see less of a benefit.

It's Tuesday, February 14th. I'm Luke Vargas with the Wall Street Journal,

and here's the AM edition of What's News. The top headlines and business stories,

moving your world today.

Three people are confirmed dead and five others in critical condition after a shooting inside

two campus buildings at Michigan State University last night. That is, according to police who

said that the 43-year-old suspect in the shooting, who had no affiliation with the university,

died of a self-inflicted gunshot wound after he was confronted by law enforcement.

In response to the shooting, the university said that it would cancel classes and all other

activities for the next two days. President Biden is set to name Federal Reserve Vice-Chair

Lail Brainerd to serve as director of the National Economic Council, according to people familiar

with the matter. Brainerd would succeed Brian Deese in the role after he plans to step down

later this month. The White House declined to comment. WSJ Market reporter Joe Wallace has

more on what Brainerd could bring to the job.

The NSE director is responsible for advising the president on policy decisions and also

coordinates policy making across the various agencies in the executive branch of government.

...