Goolsbee will chair Obama's Council of Economic Advisers:

Austan Goolsbee, a former University of Chicago economics professor who specializes in tax policy, will be named chairman of the Council of Economic Advisers, White House officials said. Goolsbee and U.S. President Barack Obama have known each other since 2004, when they taught at the university. The appointment doesn't require Senate approval because Goolsbee already serves on the council.

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