Obama calls Furman, 42, one of the most brilliant economic minds of his generation. He says Furman never forgets he is fighting for the middle class and those who aspire to join it.
If confirmed by the Senate, Furman would replace Alan Krueger, who is returning to his former post as a professor at Princeton University. Obama praised Krueger, saying he is driven by the principle that no full-time worker in America should be impoverished.
The council is one of two of the president's main sources of economic advice. The other is the National Economic Council, where Furman currently serves as principal deputy director.