Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Romer resigns as chief of Obama's economic council

By the CNN Wire Staff


(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."

Romer had previously expressed an interest in returning to California once her son starts high school in the fall, Obama added. To top of page

Index Last Change % Change
Dow 15,973.84 313.66 2.00%
Nasdaq 4,337.51 70.67 1.66%
S&P 500 1,864.78 35.70 1.95%
Treasuries 1.75 0.10 6.33%
Data as of 7:40pm ET
Company Price Change % Change
Bank of America Corp... 11.95 0.79 7.08%
General Electric Co 28.26 0.81 2.95%
Cisco Systems Inc 25.11 0.43 1.74%
Chesapeake Energy Co... 1.59 -0.19 -10.67%
Freeport-McMoRan Inc... 5.53 0.64 13.09%
Data as of Feb 12
Sponsors

Sections

Investors need someone they can bring home to mother instead of bad boys (or girls) that may make their heart beat faster. Boring beats bold in this market. Here are 10 dependable stocks we love. Southwest (ticker symbol: LUV) is one. More

Cheap oil and slow global growth may not be the only culprits of the global market turmoil. There's growing concern that central banks are spooking the markets too. More

Eastern Illinois University laid off 198 staff members this week, and the college president is blaming the state government. More