Bush economic adviser Hubbard to step down
Updated: 2007-11-28 21:59
WASHINGTON - Top White House economic adviser Allan Hubbard is expected to leave his post at the end of this year, the Wall Street Journal reported on Wednesday in its on-line edition.
 President Bush remarks on the economy as National Economic Council director Al Hubbard (seated R) looks on, in the Oval Office, October 5, 2007. Hubbard is expected to leave his post at the end of this year, the Wall Street Journal reported on Wednesday in its on-line edition. [Agencies] |
The resignation, the latest in a spate of White House departures as President George W. Bush's term winds down, could be announced later in the day, the Journal said.
Hubbard, 60, joined the White House as director of the National Economic Council after Bush's re-election in 2004.
His departure would come as the Bush administration is facing a crisis in the mortgage industry that has caused rising housing foreclosures and sparked recession fears.
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Undated file photo provided by Al Hubbard showing Al Hubbard, chairman of President Bush's National Economic Council, who will announce Wednesday, Nov. 28, 2007, that he's leaving his post. [Agencies] |
Hubbard said on Tuesday US recession risks have increased but said "real America" is still doing well.
"Obviously the chances of a recession are higher now than they were a year ago, but we still think it's less than 50:50," Hubbard told CNBC television in an interview.
"We obviously have problems in the housing sector and we have problems in the financial sector, but ... real America is doing just fine," he said.
Other top officials who have left the White House this year include political adviser Karl Rove, communications director Dan Bartlett and budget director Rob Portman.
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