Obama closes in on Altman as adviser

City A.M. Reporter
INVESTMENT banker Roger Altman is the top candidate to replace National Economic Council director Lawrence Summer as Obama’s most senior economic adviser, it emerged yesterday.

Altman, a former Treasury official, met with Obama at the White House Tuesday.

Altman could signal a move to the centre because he is closely associated with moderate economic policies of the Clinton administration.

He served two stints at the Treasury Department, first in 1977-81 as assistant secretary in the administration of President Jimmy Carter, and second in 1993-94 as deputy secretary under President Bill Clinton.

Summers’ replacement will play an important role in helping Obama find new ways to boost the economy.