Chairman of the President's Council of Economic Advisers Alan Krueger will leave his position and return to Princeton University, the White House announced late Tuesday.
"Over the past two years, Alan has been one of my most trusted advisers on economic policy and a great friend. I asked Alan to lead my Council of Economic Advisers because he understands the economy better than almost anyone, but more importantly, he understands who we are fighting for - middle-class families and anyone working to climb into the middle class," said President Barack Obama in the statement.
"Alan was the driving force behind many of the economic policies that I have proposed that will grow our economy and create middle-class jobs. He's devoted his entire career to making sure our economy works for everyone, not just those at the very top. And while we have more work to do, today our economy is improving - thanks, in no small part, to Alan's efforts. I want to thank Alan for his service and wish him the best of luck as he returns to Princeton", he added.
Krueger, who will return to his position as Bendheim Professor of Economics and Public Affairs at Princeton University, said he is "deeply grateful to President Obama for the opportunity to serve twice in this Administration, and for the chance to do what I could to help the Nation recover from the worst economic crisis since the Great Depression, and put policies in place that create good jobs and help reignite a rising, thriving middle class".
"It has been one of the highest privileges of my life to serve the American people", he concluded.