President Barack Obama announced Monday that he is nominating longtime aide Jason Furman to serve as Chairman of the President's Council of Economic Advisers.
Furman has served as the deputy director of the National Economic Council since the beginning of Obama's first time in January of 2009.
In confirmed by the Senate, Furman would replace Alan Krueger, who is returning to Princeton University after serving as Chairman of the CEA since November 2011.
Obama credited both Furman and Krueger with helping to guide the recovery from the global economic crisis of 2008 and the subsequent recession.
"Jason Furman is one of the most brilliant economic minds of his generation, don't take my word for it -- you can talk to other economists who know a lot more than I do about it," Obama said in remarks in the State Dining Room of the White House.
"And when the stakes are highest, there's no one I'd rather turn to for straightforward, unvarnished advice that helps me to do my job," he added. "He understands all sides of an argument, not just one side of it."
Obama noted that work still needs to be done to support the economic recovery and urged the Senate to swiftly confirm Furman's nomination.
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