国际英语新闻:Obama taps Furman as chief economist, touts policy achievements

WASHINGTON, June 10 (Xinhua) -- In a major move to reshuffle his economic team, U.S. President Barack Obama on Monday nominated veteran economic official Jason Furman to lead the White House Council of Economic Advisers (CEA) and touted the administration's policies in boosting U.S. economic recovery.

Furman, currently principal deputy director of the President's National Economic Council (NEC), is "one of the most brilliant economic minds of his generation," said Obama at a nomination ceremony held at the White House, who noted Furman has won the " respect and admiration from his peers across the political spectrum."

Furman's nomination still awaits confirmation by the U.S. Senate. If he is confirmed by the Senate, Furman will replace Alan Krueger to become Obama's top economic aide.

Krueger, a renowned Princeton labor economist, last month announced his plan to return to Princeton University as a professor later this year.

Furman, who will be the fourth economist to lead the CEA since Obama took office, has worked on just about every major economic challenge of the past four and a half years, from averting a second economic depression, to fighting for tax cuts that help millions of working families make ends meet, to creating new incentives for businesses to hire, and to reducing our budget deficits in a balanced way that benefits the middle class, Obama stressed. "It's now been nearly five years since an economic crisis and a punishing recession came together to cost far too many Americans their jobs, and their homes, and the sense of security that they had built up over time," Obama said.

Four and a half years later, U.S. businesses have created nearly 7 million new jobs over the past 36 months. The American auto industry has come roaring back, noted Obama, adding that the economic recovery is a testament to the grit and resolve of Americans and dedication of key policymakers including Krueger and Furman.

"We're producing more of our own energy, we're consuming less that we import from other countries. Our deficits are shrinking rapidly. The cost of health care is slowing. The housing market is rebounding. People's retirement savings are growing. The wealth that was lost from that recession has now been recovered," Obama said.

"Jason's strong commitment to economic growth and job creation and his firm belief in the importance of pursuing policies to expand the middle class will make him an extraordinary leader of the Council. Jason has excelled in both public service and academic research and will draw on his deep experience to confront the challenges facing working Americans," said U.S. Treasury Secretary Jacob Lew in a statement after the ceremony, urging the Senate to move quickly on the nomination.

Furman earned his doctorate in economics from Harvard University, and used to work for the CEA under U.S. President Bill Clinton.

"We have considerable disagreements with President Obama's economic policies and no doubt will have differences with his future economic agenda. We are confident, however, that Jason Furman, if confirmed as CEA chair, will provide President Obama with advice that presents both the advantages and disadvantages of the policy proposals under consideration," said Greg Mankiw, who chaired the CEA under President George W. Bush and was Furman's doctorate thesis adviser, with a group of economists at the think tank American Enterprise Institute (AEI) in a blog post Monday.

The CEA is one of major economic advisory agency at the White House, mainly focused on domestic economic policymaking.