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.
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.