President Obama will announce the appointment of Dr. Jason Furman (shown in photo) to chair the White House's Council of Economic Advisers (CEA) this afternoon, according to a White House statement. Furman has a Ph.D. in economics from Harvard University and received an MSc from the London School of Economics. He has advised Obama on economics matters since the president’s 2008 election campaign.
“Furman has been a key adviser to the president and has contributed to most every major proposal on jobs and the economy,” said a White House official who declined to be identified.
Furman will replace economist Alan Krueger as head of the CEA. Krueger was confirmed as CEA chair in November 2011 and is returning to his position as the Bendheim professor of economics and public affairs at Princeton University, from which he has been on leave. Reuters cited a source stating that Krueger had to return to Princeton by this fall in order to maintain his tenure at the Ivy League school.
President Obama issued a statement last month in which he called Krueger “one of my most trusted advisers on economic policy and a great friend.”
Former White House National Economic Council (NEC) head Larry Summers said of Furman late last month, “He’s as bright and able as any economist I’ve worked with,” after an unidentified source familiar with the matter told Reuters that Obama planned to appoint him. “I think he’ll be terrific.”
The chairman of the CEA — which advises the president on domestic and international economic policy based on data and economic research — is nominated by the president and must be approved by the Senate. The CEA provides much of the objective empirical research for the White House and prepares the annual Economic Report of the president.
Click here to read the entire article.