President Barack Obama plans to nominate Jason Furman, a Harvard-trained economist who’s also well-schooled in White House staff rivalries, to replace Alan Krueger as the head of the Council of Economic Advisers, according to two people familiar with the matter.
The partial government shutdown this month trimmed 0.25 percentage point from fourth-quarter economic growth and cost the U.S. 120,000 jobs in October, President Barack Obama’s chief economic adviser said.
At this point, Larry Summers isn’t just the favorite for Federal Reserve chairman. He’s the overwhelming favorite. Unless something truly unexpected shows up in the vetting process (a paid toast at Bashar al-Assad’s birthday party, for example) or the administration comes to believe Senate Democrats will revolt against a Summers nomination, he’s going to get the job.