Economic Advisor Says He’s Not Leaving Yet
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White House economic advisor R. Glenn Hubbard called a newspaper report saying he will step down and be replaced by Harvard economist N. Gregory Mankiw “a bit premature.”
Reacting to a report in the Wall Street Journal that said he would resign as chairman of the White House Council of Economic Advisors, Hubbard told reporters, “It’s too soon to write my obituary.”
Hubbard aide Phillip Swagel confirmed that the economist has “no immediate plans” to leave his White House post. But Swagel left open the possibility that Hubbard will leave in the spring, as the newspaper said.
An immediate departure by Hubbard could embarrass the administration. He is the principal author of President Bush’s recent call to cut the tax on stock dividends, and an exit could be interpreted as a sign of wavering support for the proposal.
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