(CNN) -- Peter Orszag has told President Barack Obama that he plans to leave his position as White House budget director in July, an Obama administration official told CNN Monday evening.
Orszag, 41, has been a key part of Obama's economic team, serving in his role as director of the Office of Management and Budget during the passage of the economic stimulus bill and this year's health care reform legislation.
As budget director, he crafted policy, but also was a prime negotiator with congressional Republicans.
As one of the main negotiators in the final hours before lawmakers passed the economic stimulus package, Orszag tried to bridge differences and was keeper of the ever-changing numbers, often crunching them in his head.
Orszag headed the Congressional Budget Office for almost two years before Obama tapped him to be the White House budget director shortly after the 2008 presidential election.
The new role thrust into Orszag -- a man accustomed to working behind-the-scenes analyzing economic data -- into the public spotlight.
He also worked at the Clinton White House as special assistant to the president at the National Economic Council and served on the Council of Economic Advisors.
Orszag is known in the halls of Congress for wearing cowboy boots with his business suit and has quoted country music songs during budget hearings.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.50%||3.47%|
|15 yr fixed||2.74%||2.71%|
|30 yr refi||3.53%||3.50%|
|15 yr refi||2.76%||2.73%|
Today's featured rates:
Some analysts think Netflix makes sense as a takeover target now that AT&T and Time Warner may be kicking off a new round of mergers in the worlds of media and tech. More
Comparing the rise of Donald Trump with the shocking Brexit vote in the U.K. is misguided, according to a pair of new reports released on Wednesday. More
Google Fiber is pausing its expansion into new markets, losing its top executive and planning a round of layoffs. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
You can't avoid risk altogether. But you should consider how you can balance different risks. More