Mankiw resigns from CEA, clears way for Bernanke

Gregory Mankiw has resigned as chairman of President Bush's Council of Economic Advisers. Federal Reserve Governor Ben Bernanke is a top contender to replace him, an administration official was quoted as saying.

Newswires quoted government sources as saying Federal Reserve Governor Ben Bernanke was a leading candidate to replace Mankiw as chairman of the White House Council of Economic Advisers. An announcement was expected within days, the sources said.

White House spokesman Scott McClellan de

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