President Barack Obama on Thursday chose J.P. Morgan Chase executive William Daley to be his new White House chief of staff, retooling his team with an experienced businessman at the helm. The selection of the veteran of the Clinton administration is to be announced by Obama at a 2:30 pm EST (1930 GMT) White House ceremony, White House spokesman Robert Gibbs said.
By picking Daley, Obama is bringing in someone who was not part of his original inner circle and someone who has deep business experience at a time when fixing the US economy is his greatest challenge ahead of his 2012 re-election bid.
William Galston, an economist who was a domestic policy adviser to President Bill Clinton, said Daley should help Obama repair frayed relations with the US business community, which has complained that Obama's policies will hurt job creation.
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