05/15/2019 | Press release | Distributed by Public on 05/15/2019 16:27
WASHINGTON, D.C. - U.S. Senator Mike Enzi (R-WY), Chairman of the Senate Budget Committee, joined today with House Budget Committee Chairman John Yarmuth (D-KY) to announce the appointment of Dr. Phillip L. Swagel to serve as Director of the Congressional Budget Office (CBO). Swagel will serve his term from June 3, 2019, until January 3, 2023.
'Dr. Swagel's strong academic and government experience, as well as his knowledge and expertise in economic forecasting, will serve him well as he leads CBO,' said Chairman Enzi. 'I am confident he will lead the agency with integrity and maintain the office's reputation for non-partisan analysis. I would also like to thank Dr. Hall for his years of dedicated service to Congress and wish him well.'
'For more than 40 years, the Congressional Budget Office has played a vital role in providing Congress with non-partisan and high-quality analysis, helping us to make informed decisions on fiscal policy,' said Chairman Yarmuth. 'I want to thank Dr. Keith Hall for his stewardship of the CBO these past four years, and I am confident Dr. Phillip Swagel will ensure the office continues to fulfill its important mission. I look forward to working with him.'
Dr. Swagel received both his Ph.D. and master's degree in economics from Harvard University, and his bachelor's degree from Princeton University. He is currently a professor of International Economic Policy at the University of Maryland School of Public Policy. In addition to Dr. Swagel's academic experience, he has held previous roles in public service, including positions within the Treasury Department, the Council of Economic Advisers, and the Federal Reserve Board.
CBO was established in 1975 to produce independent, non-partisan analyses of economic and budgetary issues in support of the congressional budget process. The agency plays a key role in analyzing the cost estimates for legislation proposed in Congress, but does not make policy recommendations.
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