[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/09/10/art.goolsbee.gi.jpg caption ="Austan Goolsbee will be named chairman of the White House Council of Economic Advisers."]Washington (CNN) - President Obama could announce as early as Friday morning that he will tap Austan Goolsbee to be chairman of the White House Council of Economic Advisers, according to two senior administration officials familiar with the announcement.
Goolsbee will replace Christina Romer, who stepped down earlier this month as chairwoman of the CEA, a panel of three White House officials who offer the president economic advice and help formulate policy. Goolsbee and Cecilia Rouse are the other two members.
It's a crucial job as the Obama administration continues to try and dig out of the worst recession since the Great Depression on the eve of a midterm election in which Democrats find the economic anxiety threatening their majorities in the House and Senate.