Breaking news from Politico
President Barack Obama will announce Austan Goolsbee as the new chairman of the White House Council of Economic Advisers at an East Room news conference on Friday, providing continuity in the face of a political storm. A senior administration official said Goolsbee, 41, will succeed Christina Romer. Goolsbee is a member of the CEA, and staff director and chief economist on the President's Economic Recovery Advisory Board. As a University of Chicago economics professor, he advised Obama’s 2004 Senate campaign and 2008 presidential campaign. Last year, he won a “D.C.'s Funniest Celebrity” contest.