New IMF Chief Economist is Krugman Crony

Christine Lagarde, the International Monetary Fund's managing director, announced today that Maurice Obstfeld will replace outgoing chief economist Olivier Blanchard in September.

Gold rebounds (back at you Krugie):

#Gold still "recovering" from the mash crash https://t.co/Ex2X1pZYDQ pic.twitter.com/2sJHSq8XG2

— Smaulgld (@Smaulgld) July 20, 2015

Lagarde said in a statement:

I am thrilled to have Maurice join us at the Fund. His outstanding academic credentials and extensive international experience make him exceptionally well placed to provide intellectual leadership to the IMF at this important juncture.

He is known around the globe for his work on international economics and is considered one of the most influential macroeconomists in the world.

Paul Krugman and Obstfeld are co-authors of International Economics: Theory and Policy (Amazon list price:$210.61).

Obstfeld is the former chair of the department of economics at the University of California, Berkeley. He is currently a member of President Obama's Council of Economic Advisers.

 -RW