President Donald Trump nominated University of Minnesota economist Christopher Phelan on Tuesday to serve as chairman of the White House Council of Economic Advisers, according to CBS News. 

Phelan currently teaches in the University of Minnesota’s economics department. He earned his undergraduate degree from Duke University and his Ph.D. from the University of Chicago.

In a statement posted on X, reporter Edward Lawrence wrote that the White House is nominating Phelan to replace Stephan Miran’s prior role in the administration. 

Quoting White House Senior Deputy Press Secretary Kush Desai, Lawrence reported: “President Trump has assembled the best and most experienced economic team in modern history, and with elite degrees from the University of Chicago, experience as a Federal Reserve advisor, and a deep research background at the University of Minnesota, Chris Phelan will be a key addition to the Administration.”

Phelan worked as a consultant with the Federal Reserve Bank of Minneapolis, according to the AP News. 

His background is closely aligned with Trump’s economic priorities, as the president has pushed the Federal Reserve to lower interest rates to drive stronger growth, despite concerns that doing so could increase inflation, according to CBS News. 

Phelan declined to comment for this story.