Obama Selects Zients to Replace Sperling at NEC

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Sept. 13 (Bloomberg) -- Bloomberg chief Washington correspondent Peter Cook reports that President Barack Obama has selected Jeffery Zients, former acting chief of U.S. Office of Management and Budget, to replace Gene Sperling as director of the National Economic Council. He speaks on Bloomberg Television's "Bloomberg Surveillance."

President going to his wheelhouse, somebody knows, mr.

Zients, two plays into this important job or placing genes purling.

This is a choice over familiarity over a fresh face.

Jeff zients it simple and the president knows well.

He with the chief performance officer when he first arrived at this white house straight from the private sector, no previous government sector experience.

One of his missions was to try and reorganize the government, proposals to streamline government operations.

Some of those proposals irked a few people who thought they might be losing a little bit of turf, but the president thought that jeff had done a good job.

He became eventually acting omb director.

He was the logical choice to replace jack lew, but there were some issues there.

Silvio burwell took that job.

They talk at always been that he would return in another capacity.

This is a logical position for him.

This is a policy., as tom said, not necessarily a straight economic job, although larry summers had this job previously.

This is again the president going back to some he knows well and someone he trusts.

That does what to what i'm thinking, tom, and that is that the president has a very important decision to make, who is going to be the next fed chairman, which he could make eminently.

Again with the scum of the speculation he will choose larry summers, somebody he knows very well and has been very loyal to.

This harkens back to me, peter cook, to the bush administration where you get sort of a smooth guy into run the council.

Help lower viewers.

What is the national economic council?

-- help our viewers.

Would have become at the policy-making shop for this white house.

It is the place where ideas, economic ideas get oiled down into actual policy, functioning policy that might actually be able to pass congress.

We don't have that happen very often these days, tom, but that is the goal of the national economic council.

The president of the economic goals in a policy way that can actually work.

That is what genes purling -- gene sperling, who is well-known in this town, he has been able to translate economic ideas into real main street, if you will, policy.

That has been the white house's goal.

His is larger has been talked about for a long time -- his departure has been talked about for a long time.

What is important here is the timing.

Justeff zients does not take over until january 1. peter cook, thank you for joining us last on this breaking story.

All reporting indicating that jeffrey zients will take over gene sperling's job at the white house.

Let's bring in john rice, vice chairman at general electric.

This text has been automatically generated. It may not be 100% accurate.

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