WASHINGTON -- Phillip L. Swagel, an economist with extensive service in the George W. Bush administration, has been appointed the new director of the Congressional Budget Office.
Senate Budget Chairman Michael B. Enzi and House Budget Chairman John Yarmuth announced the appointment, which begins June 3.
Swagel currently serves as professor of international economic policy at the University of Maryland School of Public Policy. He is also a nonresident scholar at the American Enterprise Institute, a conservative think tank.
He will replace Keith Hall, the current CBO director whose four-year term officially ended Jan. 3. Hall continued on in a temporary capacity while Budget Committee leaders in both chambers deliberated on his successor.
In a statement, Enzi said Swagel's "strong academic and government experience, as well as his knowledge and expertise in economic forecasting, will serve him well as he leads CBO." The Wyoming Republican said he is confident Swagel will "lead the agency with integrity and maintain the office's reputation for nonpartisan analysis."
Yarmuth, a Kentucky Democrat, said he is "confident Dr. Phillip Swagel will ensure the office continues to fulfill its important mission" of providing Congress with nonpartisan and high-quality analysis to help make informed decisions on fiscal policy.
Both Enzi and Yarmuth thanked Hall for what they called his dedication and stewardship of CBO.
Swagel served as assistant secretary for economic policy at Treasury during the Bush administration, where he was a member of the Troubled Asset Relief Program investment committee. He was responsible for analysis of issues including housing, financial markets, health care, pensions and macroeconomic forecasts.
Earlier, Swagel worked as chief of staff and a senior economist on the White House Council of Economic Advisers under Bush, and was an economist at the International Monetary Fund and the Federal Reserve Board.
Enzi took the lead in choosing Swagel under an informal arrangement in which the lead role alternates between the House and Senate Budget chairs.