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Obama taps labor expert Krueger as top White House economist

(Xinhua)

09:47, August 30, 2011

WASHINGTON, Aug. 29 (Xinhua) -- U.S. President Barack Obama announced Monday to name Princeton University labor economist Alan Krueger to lead the White House Council of Economic Advisers (CEA).

If approved by the Senate, Krueger will replace Austan Goolsbee, who left the administration earlier this month for his teaching job at the University of Chicago.

Goolsbee is an important public face for the administration on the economy, as he gives comments on the nation's various economic reports and policies.

Krueger will bring a wealth of knowledge and decades of experience to the challenge of creating jobs and promoting economic growth for the United States, said Obama.

Krueger previously served as Assistant Secretary for Economic Policy and chief economist at the U.S. Treasury Department, and as chief economist at the U.S. Labor Department.

This is Obama's third pick of an economist for this key position in his administration, an evidence of the tough job to reduce the stubbornly high unemployment rate and boost the country 's economic growth. "Alan understands the difficult challenges our country faces, and I have confidence that he will help us meet those challenges as one of the leaders on my economic team," Obama said.

This move is one of the key steps for the shake-up of Obama's economic team. U.S. Treasury Secretary Timothy Geithner, the only remaining top official from Obama's original economic team, said earlier this month that he would stay on his job amid market jitters caused by the downgrading of the U.S. credit rating from Standard and Poor's.


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