Krueger To Replace Goolsbee At CEA

According to the Wall Street Journal’s David Wessel, President Obama will announce Monday morning that he is nominating Princeton University economist Alan Krueger to replace former Council of Economic Advisers Chairman Austan Goolsbee.

Goolsbee left office on August 5 to return to the University of Chicago, where he taught before serving in the current administration.

Kruger, 50, is a labor economist who has already served one stint in the administration, working as Assistant Treasury Secretary for Economic Policy in 2009 and 2010. If confirmed by the Senate, Krueger will become Obama’s third CEA Chairman, following Goolsbee and Dr. Christina Romer.

Obama is expected to officially announce his decision at 11:00 am ET. This story will be updated following the president’s remarks.

Update on Monday, August 29, 2011 at 11:06AM by Geoff Holtzman

In a brief statement from the White House Rose Garden, President Obama called Krueger “a key voice on a vast array of economic issues for more than two decades.”

“Alan understands the difficult challenges our country faces, and I have confidence that he will help us meet those challenges as one of the leaders on my economic team,” Obama added.