President Barack Obama had chosen ex-acting budget chief Jeffery Zients as his top economic adviser. Zients would replace Gene Sperling after the US President made a shakeup to his advisory team. This was after the White House struggled to gain a strong grip for its economic agenda, said a Reuters report.

Sperling would remain through the fall to help with what had been expected to be contentious discussions with Congress regarding the budget and the US debt ceiling. Gene Sperling had been a longtime economic adviser to Obama and to former President Bill Clinton. He would step down from his post by January 1 of next year.

Zients served two terms as director of the Office of Management and Budget. However he was passed over for the top position.

In a statement last Friday, Obama said, "I am certain that in Jeff's hands we will continue to have strong leadership of our economic policy team and his advice will be critical as we keep moving this country forward and building an economy where everyone who works hard can get ahead."