Obama: Goolsbee to lead economics advisers

WASHINGTON, Sept. 10 (UPI) -- President Barack Obama opened his news conference Friday by introducing Austan D. Goolsbee as chairman of the Council of Economic Advisers.

"Austan's been one of my good friends and close economic advisers for many years," Obama said by way of introduction. "He's one of the finest economists in the country and he's worked as a member of the Council of Economic Advisers since we arrived here in Washington."

Goolsbee replaces Christina Romer, who resigned as CEA chairwoman to return to teaching.

Obama said Goolsbee was a "brilliant economist" as well as "someone

who has a deep appreciation of how the economy affects everyday people, and he talks about it in a way that's easily understood."

Since Goolsbee already is on the council, he won't need to be confirmed by the Senate as CEA chairman. At age 41, Goolsbee is the youngest chairman since Arthur Okun in President Lyndon Johnson's administration.

Goolsbee, a graduate of Yale, spent time in a comedy troupe while earning an economics degree with highest honors. He earned his doctorate at the Massachusetts Institute of Technology.

He has written a column for The New York Times, appeared many times on Comedy Channel's "The Daily Show" and hosted an economics show on the History Channel.