Sperling to Head Economic Council

President Obama will tap Gene Sperling to become the new head of the National Economic Council, Bloomberg reports. The 52 year old was the head of the NEC during the Clinton administration until 2001 but was working as a counselor for Treasury Secretary Timothy Geithner. Sperling will succeed Larry Summers who returned to Harvard University after working for two years at the NEC under the Obama administration. The president is expected to announce his new appointments Friday—he has several new members of his economic team and has already announced changes to the White House staff including William Daley's appointment as the new chief of staff.