Obama taps former Fed economist as policy advisor

Reuters News
Posted: Aug 01, 2013 8:14 PM

WASHINGTON (Reuters) - President Barack Obama has chosen a former Federal Reserve economist for a senior economic policy post, the White House said in a statement on Thursday.

Obama said he plans to name Karen Dynan to be assistant Treasury secretary for economic policy. The job requires Senate confirmation.

Dynan left the Federal Reserve in 2009 after 17 years with the central bank, where she principally worked as a researcher and senior adviser.

Since 2009, Dynan has been a co-director of the Brookings Institution's Economic Studies team which examines national economic policy issues.

From 2000 to 2007, Dynan led the household and real estate finance section of the central bank - a division that examines trends in consumer borrowing and the broader economy.

Treasury Secretary Jack Lew said in a statement that Dynan "shares our commitment to strengthening the middle class."

Dynan earned her Ph.D. in economics from Harvard University. Her husband, Douglas Elmendorf, is director of the Congressional Budget Office, which gives independent economic analysis to lawmakers.

(Reporting By Patrick Rucker; Editing by Bill Trott)