Washington (Feb. 28, 2003) -- President Bush has tapped Harvard University economics professor N. Gregory Mankiw to become the next chairman of the White House Council of Economic Advisers to fill the void left by the resignation this week of one of his top economic advisers.

Mankiw, who must be confirmed by the Senate, will replace R. Glenn Hubbard, who resigned on Wednesday. Mankiw is the author of two economics textbooks and is a research associate with the National Bureau of Economic Research, an advisor to the Federal Reserve Bank of Boston and the Congressional Budget Office.

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