Economist and former Obama administration official Austan Goolsbee will be the next Federal Reserve Bank of Chicago president, the regional Fed announced on December 1.

Goolsbee will take office on January 9, succeeding Charles Evans, after he was chosen by Chicago Fed board members. As president, he will also be a voting member of the Federal Open Market Committee in 2023.

Goolsbee was previously an economic adviser to Barack Obama’s successful 2008 presidential campaign. Between 2010 and