White House economic boss stepping down, former OMB head to step in

WASHINGTON, Sept. 13 (UPI) -- Gene Sperling, U.S. President Barack Obama's top economic adviser for the past four years, will leave his post in January, the White House announced Friday.

As director of the National Economic Council and assistant to the president for economic policy, Sperling "helped us avoid a second Great Depression," Obama said in a statement.

"Gene's relentless work ethic, sharp intellect and ability to work across the aisle have been instrumental in our efforts to build a better bargain for the middle class and reduce the deficit while also protecting the most vulnerable," the president said.

Obama said he has appointed Jeffrey Zients, acting director of the Office of Management and Budget from January 2012 to April 2013, as director of the National Economic Council.

Zients is co-founder of The Urban Alliance Foundation, a non-profit organization that works with companies to provide economically disadvantaged youth with paid internships, mentoring and job training.