(CNN) -- Christina Romer, head of President Barack Obama's Council of Economic Advisers, will step down and return to her teaching post at the University of California, White House officials said on Thursday.
The resignation will take effect on September 3.
Romer, who has been a big supporter of health care reform and the president's stimulus plan, is one of Obama's principle economic advisers -- certainly, one of the most visible. The two meet on almost a daily basis.
"Christy Romer has provided extraordinary service to me and our country during a time of economic crisis and recovery," Obama said in a statement. "While Christy's family commitments require that she return home, I'm gratified that she will continue to offer her insights and advice as a member of my Economic Recovery Advisory Board."
Dunkin' Brands reported sluggish sales and warned that growth is going to remain slow. The coffee and breakfast wars are clearly having an impact on Dunkin' and other restaurants. More
Regulators are about to reveal the results of an extensive health check of Europe's top 130 banks, indicating which may need a cash infusion. More
Concern about the stock market has sent interest rate of 15-year mortgage to lowest level of the year. More