WASHINGTON (AFP) – Economist Austan Goolsbee announced that he was resigning as the chairman of President Barack Obama’s Council of Economic Advisers to return to his tenured teaching job at the University of Chicago.
Goolsbee will return to Chicago in time for the academic year that begins in September, the White House said in a statement.
Obama chose Goolsbee in September 2010 for the top economic adviser job, replacing Christina Romer, who also left to return to the academic world.
The council is a three-member panel that provides advice based on economic research and analysis to the president on domestic and international issues.
Goolsbee has been with Obama since he served as an advisor in the president’s 2008 election campaign.
Over the past years Goolsbee “has helped steer our country out of the worst economic crisis since the Great Depression, and although there is still much work ahead, his insights and counsel have helped lead us toward an economy that is growing and creating millions of jobs,” Obama said in the statement.
The US president praised Goolsbee as “one of America’s great economic thinkers” and “a close friend and one of my most trusted advisers.”
Goolsbee said in the statement that he “will always be proud of the years I have spent working for this president,” and praised Obama’s judgment and courage “in confronting the worst economic crisis of our lifetimes.”
Before taking the job ad CEA chairman, Goolsbee had been the chief economist on the president’s Economic Recovery Advisory Board, which Obama set up to provide outside and independent advice as he navigates the economic recovery.
He has also been one of the three CEA members.