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.