Austan Goolsbee to Resign

The White House announced Monday that Council of Economic Advisers Chairman Austan Goolsbee will be leaving to return to teaching economics at the University of Chicago. Goolsbee, one of President Obama’s longest-serving advisers, has been on leave for four years from the Booth School of Business and could have lost his tenure position had he extended further, an official said. Goolsbee served as Obama’s economic adviser on his 2004 Senate campaign and a senior economic adviser on the 2008 presidential campaign before being appointed to the Council of Economic Advisers in September. His departure leaves Treasury Secretary Timothy Geithner as the only senior official remaining from Obama’s initial economic team.