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Intrigue at CEA!

Intrigue at the CEA! The wall street journal reported that the head of the president’s council of economic advisors, Glenn Hubbard, would be stepping down “by spring.”
It looks like the source for this information was “administration officials.”
Hubbard, however, says that reporters never talked to him and denies that he has immediate plans to leave.
I think Hubbard needs to have a chat with Karl Rove sooner rather than later!
In case you haven’t been following the controversy, Hubbard has been taking flak for saying, recently, that deficits do not impact interest rates, even though earlier writings (i.e. his textbook) state the reverse. See DeLongs’ website for the nexus of the Hubbard-deficit problem.
Bush Economist Hubbard to Leave Post – WSJ
Bush Economist Hubbard to Leave Post – WSJ
By REUTERS
Filed at 8:47 a.m. ET
NEW YORK (Reuters) – The chairman of the Council of Economic Advisers for the White House, Glenn Hubbard, plans to step down by spring, the Wall Street Journal reported on Thursday.
He is likely to be succeeded by Harvard University economist Gregory Mankiw, the newspaper said.

Hubbard plans to return to Columbia University for personal reasons, administration officials told the Journal. They said that the White House would have preferred that he remain.
White House’s Hubbard: Departure Report Premature
By REUTERS
Reuters
Filed at 9:37 a.m. ET
PHILADELPHIA (Reuters) – White House economic adviser Glenn Hubbard said on Thursday a newspaper report that he was planning to leave the administration was premature, but that he did not plan on being a “lifer” in the White House.
“It’s too soon to write my obituary. It’s a bit premature. They didn’t talk to me,” Hubbard told reporters, referring to a Wall Street Journal newspaper article saying he planned to leave his post as chairman of the White House Council of Economic Advisers and return to academia.

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