The Chairman of the National Economic Councilis the gatekeeper to the Oval Office for economic information, and principal advisor to the President of policies for economic recovery.
He prepares the daily brief on all the economic data journalists and analysts report and write about. Hence, replacing him with someone from industry, for example Anne Mulcahy, former chief executive of Xerox , would be a mistake even if that is likely to happen.
Simply, Mulcahy does not have the background to effectively advise the President on the intricacies of topics ranging from the Consumer Price Index to the effects of inventory purchases on actual and sustainable GDP growth. Think of it like an NFL team-you want a running back as your featured back not a wide receiver.
The Administration needs private industry expertise but other vacancies will emerge in the Cabinet-for example, Commerce Secretary-and it would be better to put Mulcahy there, or at Health and Human Services to implement national health care. She is currently Chairman of Save the Children.
Whoever the President picks, he will be liberal.