Obama to nominate Jason Furman as key economic advisor

WASHINGTON -- President Obama on Monday is to announce the nomination of Jason Furman to chair the White House Council of Economic Advisors, elevating the longtime aide to one of the administration’s most visible positions dealing with the economy.

The head of the three-person council often serves as the administration’s spokesperson on economic issues, helping explain policy to the public and reacting to the monthly employment report and other developments.

Furman would replace Alan Krueger, who is stepping down after more than a year and half in the job to return to teaching at Princeton University in the fall.

Obama is scheduled to make the announcement Monday afternoon at the White House. The position requires Senate confirmation.

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Since 2009, Furman has been principal deputy director of the White House National Economic Council, which coordinates economic policy. Before that, he was the economic policy director for Obama’s 2008 presidential campaign.

In those roles, Furman has contributed to almost every major Obama policy dealing with jobs and the economy, a White House official said. Furman worked on the 2009 economic stimulus package, healthcare reform and tax deals in 2010 and 2012.

The three-member Council of Economic Advisors offers the president economic advice. UC Berkeley economist Christina Romer held the position from 2009 into 2010, when she was replaced by University of Chicago economist Austan Goolsbee.

Before joining the Obama administration, Furman was a senior fellow in economic studies at the Brookings Institution think tank in Washington. He also was the director of Brookings’ Hamilton Project, an initiative that offers proposals for creating economic growth that benefits more Americans.

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