Western, central and northern Minnesota under windy, dry weather conditions 

MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all. 

Turn Up Your Support

President Donald Trump on Tuesday nominated University of Minnesota economist Christopher Phelan to be the next chairman of the White House Council of Economic Advisers, a key position for conducting analyses of the economy and the administration's policies.

If confirmed by the Senate, Phelan would succeed 

, a Harvard University-trained economist who worked at investment funds and joined the Federal Reserve Board of Governors last September. The council's vice chairman, Pierre Yared, had served as acting leader after Trump shifted Miran to the Fed.

Phelan's resume suggests a keen interest in the operations of central banks, a major interest of Trump, who has 

pressured the Fed to dramatically cut its benchmark interest rates

 to drive stronger growth, even though doing so could risk higher inflation.

Phelan has worked as a consultant with the Federal Reserve Bank of Minneapolis. He received his undergraduate degree from Duke University and obtained his doctorate from the University of Chicago.

“President Trump has assembled the best and most experienced economic team in modern history,” said White House spokesman Kush Desai, who called Phelan “a key addition.”

Desai said that Yared, the current acting chairman, is returning to his professorship at Columbia University's business school.

Politics and Government News

Homepage

The Associated Press

Author

President Donald Trump is nominating University of Minnesota economist Christopher Phelan as the next chairman of the White House Council of Economic Advisers. The nomination was posted on the White House website on Tuesday. 

Trump picks a University of Minnesota professor to lead his economic council

Go Deeper.

Like this?

News you can use in your inbox