Obama to Appoint Goolsbee as Head of Council of Economic Advisers

President Barack Obama will promote Austan Goolsbee to head of the Council of Economic Advisers, Bloomberg News reported.

Goolsbee will replace Christina Romer, who is leaving the post to return to teach at the University of California, Berkeley. Obama will announce the appointment of Goolsbee at a press conference this morning, Bloomberg News said without naming its sources.

Goolsbee, 41, is already a sitting member of the council, so his appointment doesn't require another Senate vote, sparing the White House a potentially extended confirmation process.

The former University of Chicago professor has clashed with other members of the administration's economic team, including Larry Summers. In August, Goolsbee warned that the administration needed to be "mindful" of the possibility of a double-dip recession.

Goolsbee also serves on the President's Economic Recovery Advisory Board. It's not clear if he'll relinquish those duties.

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Austan Goolsbee is a great choice to replace Christina Romer. They are both extremely well regarded by other economists.

September 10 2010 at 10:53 AM Report abuse rate up rate down Reply
1 reply to andrc657's comment

Have either of these people ever had a job outside the academia? I think everything they bring to the table is "economic theory" but neither one has any real world experience. Does Obama have anyone on his economic team that has run a successful buisness?

September 10 2010 at 3:07 PM Report abuse rate up rate down Reply

Zero consequence as long as Sommers and Emanuel are pulling the puppet strings.

September 10 2010 at 10:21 AM Report abuse rate up rate down Reply