Lazear may replace Bernanke on Advisory Council

US President George W Bush may replace Ben Bernanke with Edward Lazear as chairman of the White House Council of Economic Advisers, a report quoted sources as saying.

Lazear, 57, is currently a member of Bush's tax advisory panel and was a runner-up when Bush picked Bernanke to head the CEA in June. If Bernanke is confirmed as the next Federal Reserve chairman as expected, the CEA's top post would become vacant, and Bloomberg quoted sources as saying that Lazear could be in line as Bernanke's