Nomination of Martin Feldstein To Be a Member of the Council of Economic Advisers, and Designation as Chairman

The President today announced his intention to nominate Dr. Martin Feldstein to be a member of the Council of Economic Advisers. Upon his confirmation, the President intends to designate him Chairman of the Council. He will succeed Dr. Murray Weidenbaum.

Dr. Feldstein will be taking a 2-year leave of absence from Harvard University, where he has been a professor of economics since 1967. He is president of the National Bureau of Economic Research. This organization has been known among economists for its impeccable scholarship and rigid nonpartisanship for more than six decades. Dr. Feldstein was a research fellow and lecturer at Nuffield College, Oxford University, from 1964 to 1967.

In 1977 the American Economic Association awarded Dr. Feldstein the John Bates Clark Medal, an honor bestowed every 2 years on the economist under the age of 40 who is deemed to have made the most significant contribution to economic science. He is presently a member of the National Productivity Advisory Committee and the President's Private Sector Survey on Cost Control in the Federal Government.

Dr. Feldstein received an A.B. degree summa cum laude from Harvard University in 1961, and an M.A. in 1964 and a D. Phil. in 1967 from Oxford University. He and his wife, Kathleen, an economist, have two children and reside in Belmont, Mass. He was born November 25, 1939, in New York, N.Y.