Stiglitz to leave White House for position at World Bank Clinton adviser to take job as chief economist

December 11, 1996|By NEW YORK TIMES NEWS SERVICE

WASHINGTON -- Joseph E. Stiglitz, who served for the last year and a half as chairman of the White House's Council of Economic Advisers, said he would leave the Clinton administration early next year to become chief economist at the World Bank.

Stiglitz's departure, which had been expected, leaves PresidentClinton with another post to fill as he continues to consider possible choices to lead the Commerce, Labor, Energy, Transportation and Housing departments as well as the National Economic Council.

White House officials said it was possible that Clinton would be ready to name most of his second-term economic team at a news conference Friday, but it is unclear whether the White House has a replacement in mind already for Stiglitz.

Administration officials said there would probably be a number of candidates. One possibility, they said, is Alicia H. Munnell, a former top Treasury official who, because of a vacancy, is the only other member of the Council of Economic Advisers.

Clinton had considered naming her to the Federal Reserve several years ago but backed down after a fierce protest from the banking industry over her co-authorship of a study that found widespread discrimination in mortgage lending. But because she has already been confirmed by the Senate as a member of the council, she would not have to undergo confirmation to become its chairwoman.

Another possibility, officials said, is Alan S. Blinder, an economist at Princeton University who previously was vice chairman of the Fed and before that a member of the council under Clinton.

Pub Date: 12/11/96

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