"I am pleased to nominate Alan Krueger to lead the Council of Economic Advisers. As one of this country's leading economists, Alan has been a key voice on a vast array of economic issues for more than two decades," said President Obama. "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." If confirmed, Dr. Krueger will continue the CEA's important work of developing and offering the President economic advice on the formulation of both domestic and international economic policy. The Council bases its recommendations and analysis on economic research and empirical evidence, using the best data available to support the President in setting our nation's economic policy. Today, President Obama will announce his intent to nominate Alan B. Krueger as a member of the Council of Economic Advisers (CEA). Following his confirmation, President Obama will designate Dr. Krueger as Chairman of CEA. Dr. Krueger will be a key member of the President's economic team, bringing a wealth of knowledge and decades of experience to the challenge of creating jobs and promoting economic growth.
Krueger is otherwise known as Alan Krueger '83. He graduated from the School of Industrial and Labor Relations in 1983 before going on to earn his PhD at Harvard and teach at Princeton.
The news is especially welcoming as the Obama administration needs to get bolder and more creative on a bona fide, New Deal-esque jobs program for the country. Krueger is just the man for the job: his academic research has demonstrated that minimum wage increases don't hurt employment markets and has demonstrated the merits of increased jobs and training programs for disadvantaged youth. If the American economy is going to be able to turn itself around, with our policymakers getting away from these silly discussions over tax cuts and debt levels, Krueger will be a critical element to our future success.