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Obama's economics team has strong MIT ties

When it comes to shaping the U.S. economy, Federal Reserve Chairman Ben Bernanke PhD '79 is about to get some company from fellow MIT alumni.

The economics team unveiled Monday by President-elect Barack Obama has strong ties to MIT's Department of Economics.

Lawrence H. Summers, Obama's pick to lead the National Economic Council, graduated from MIT with an SB in economics in 1975. Christina Romer, whom Obama named to lead the Council of Economic Advisers, received her PhD in economics from MIT in 1985, and is also a parent of a 2008 graduate and a current freshman.

Another MIT alumnus, Austan Goolsbee PhD '95, served as Obama's senior economics advisor during the recent presidential campaign.

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