it was possible because of favorable supply-side developments at this time coupled with the Fed's credibility having kept inflation expectations from rising.

Service in Obama administration

Goolsbee was nominated by President Obama to serve on the Council of Economic Advisers. Goolsbee was confirmed by the Senate on March 10, 2009. He was designated chair of the Council on September 10, 2010, succeeding Christina Romer. He concurrently

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