Hans Nichols and Vivien Lou Chen
Bloomberg
August 6, 2010

  • A d v e r t i s e m e n t
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President Barack Obama lost a second member of his economic team as economist Christina Romer decided to return to teaching on the eve of an employment report highlighting the administration’s struggle to spur job gains.

Romer, chair of the Council of Economic Advisers, is returning to a post at the University of California at Berkeley, the White House said yesterday. She is interested in heading the Federal Reserve’s regional bank in San Francisco, according to a person familiar with her plans who requested anonymity.

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The resignation, effective Sept. 3, follows the July departure of Peter Orszag as director of the Office of Management and Budget in July. Jack Lew, who ran President Clinton’s budget office, is set to replace Orszag pending Senate confirmation, with Deputy OMB Director Jeffrey Zients serving as interim director.

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