Obama's New Economic Adviser: Austan Goolsbee

Austan Goolsbee will succeed Christina Romer as the chair of President Obama's Council of Economic Advisers. The president made the announcement today at the beginning of his press conference on the economy; administration sources leaked Goolsbee's name last night. Goolsbee, 41, is a University of Chicago economist and member of Obama's "inner circle," the Wall Street Journal reports. He's also the chief economist for the Presidential Economic Recovery Advisory Board.

"Goolsbee’s appointment will mean that all of the president’s top economic advisers—Goolsbee, National Economic Council Director Larry Summers, Treasury Secretary Tim Geithner—are white men who graduated from Ivy League schools," writes Jake Tapper on ABC News. "Not that there’s anything wrong with that."