As Expected
CNN reported that Romer resigns as chief of Obama’s economic council
(CNN) — Christina Romer, head of President Barack Obama’s Council of Economic Advisers, will step down and return to her teaching post at the University of California, White House officials said on Thursday.
The resignation will take effect on September 3.
By all accounts Ms Romer was an intelligent and competent economist, so it was clear that she needed to resign from her position to retain her credibility.
As a Neo-Keynesian and an MIT graduate it should have been obvious that the Neo-Classical Harvard crowd that Obama listened to wouldn’t accept her, any more than Harvard would accept her to teach. Being right is not as important as being from the “in crowd” in the Obama White House or the Ivy League.
