Candidates being suggested to replace Larry Summers as Director of the National Economic Council – basically, the President’s top economic advisor – include Indra Nooyi and Diana Farrell.
Indra Nooyi is one of the many CEOs whose name is being heard as candidates. On the one hand this would correct a certain absence of people with experience in the private sector, in the Obama administration. On the other, the NEC Director is really a job for an economist. So we’ll see.
Another candidate is Diana Farrell who is currently one of the two Deputy Directors in the NEC. In the past she has been Director of McKinsey Global Institute, McKinsey’s research arm. While she was there she researched and wrote extensively on Offshoring and global labour markets.