DAN TARULLO: Obama Economic Advisor To Be Named To Federal Reserve Board

Reuters is reporting that President-elect Barack Obama will promote Georgetown professor Dan Tarullo from being one of his economic advisors to fill an open seat on the Federal Reserve Board today.

The Federal Reserve Board has two vacancies on its seven-member panel. Tarullo, who must be confirmed by the Senate, would join Chairman Ben Bernanke as the Fed tries to ease a credit crisis and combat a deepening recession.

While Dan Tarullo has been teaching full-time since 1999, he has government experience from the Clinton era:

Professor Tarullo held several senior positions in the Clinton administration, ultimately as Assistant to the President for International Economic Policy, responsible for coordinating the international economic policy of the administration. He was a principal on both the National Economic Council and the National Security Council. Prior to his appointment to that position, he had been Deputy Assistant to the President for Economic Policy, with special responsibility for regulatory and international issues.

From 1993 until early 1996, he was Assistant Secretary of State for Economic and Business Affairs. In March 1995, President Clinton appointed Tarullo as his personal representative ("sherpa") to the G-7/G-8 group of industrialized nations, with responsibility for coordinating U.S. positions for the annual Leaders Summits. He continued this assignment after he moved to the White House, participating in four summits.

Comments

[Spinzone]

The last thing the fed needs is another academic. Also, there has to be an African American, Asian, etc. that has the qualifications. While I'm an old white guy and a conservative; I fully believe that the Federal Reserve governors have no clue what is it like to be a real person or minority. The Board is one woman, a rich kid, Kevin Warsh, and a bunch of old white Jewish guys. There has to be some diversity in the group of people who make the most important financial decisions in the world. Plus the current governors got us into the economic mess we're in; just about anyone, regardless of their academic qualifications could do as good a job as Ben and his krew have done.

[joebaggadonuts]

I'm not feelin' it. Maybe it's the law professor thing.

[Opt1musPr1me]

He does look a bit like Steve Martin doesn't he?

[sposton]

"While Dan Tarullo has been teaching full-time since 1999, he has government experience from the Clinton era"

Doesn't this subtly imply the the Fed is a government institution? They want you to believe that, don't they?

[totaldisbelief]

another old Clinton person.......why.??????

[MetalCanuck]

Because Clinton was suppose to win but the people didn't want that so they just put in the people they were going to anyway with Obama as the figurehead to make the public think something was going to change. The Bush/Clinton people will still run the show till your a third world country.

[Bluebuilder]

Damn, I glanced at the picture for a second and thought that was Steve Martin.