Friday, August 6, 2010

Christina Romer Chair of Obama’s Economic Advisor Resigned

The White House Council of Economic Advisor chair Christina Romer is resigned at the end of the July, which, combined with Peter Orszag's departure, leaves the Obama economic team without two of its lead players. MIT professor Peter Diamond's nomination to the Federal Reserve Board of Governors has been sent back to the White House by the Senate because of GOP opposition.

Christina Romer has resigned her post to return to her old job as an economics professor at the University of California at Berkeley, the White House said Thursday. Her resignation is effective Sept. 3.

Romer, 51, is one of the nation's leading scholars of macroeconomic history and an expert on the Great Depression. She was tapped by Obama to serve as chief economist for the White House in November 2008 as the newly elected president was devising a response to a global economic panic. In a statement, Romer called her White House service the "honor of a lifetime."

Obama said “Romer has long expressed a desire to return to California and has provided extraordinary service to me and our country during a time of economic crisis and recovery. The challenges we faced demanded more of Christy than any of her predecessors, and I greatly valued and appreciated her skill, commitment and wise counsel."

He added “I'm gratified that she will continue to offer her insights and advice as a member of my Economic Recovery Advisory Board.”

Romer is an extraordinary friend and colleague of the White House.