[Weekly Compilation of Presidential Documents Volume 38, Number 50 (Monday, December 16, 2002)]
[Pages 2161-2162]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks Announcing the Appointment of Stephen Friedman as Assistant to 
the President for Economic Policy and Director of the National Economic 
Council

December 12, 2002

    The President. Good afternoon. I'm pleased to introduce the newest 
member of my economic team, Mr. Steve Friedman. Welcome, Steve. I also 
want to welcome Barbara and Susie and Caroline and David and Sam. We're 
glad you all are here, and thank you for your sacrifice.
    Steve Friedman has spent a career at the center of American 
enterprise and finance and job creation. He's an innovative economic 
thinker, a proven manager, and he's a business leader of national 
standing. He has served the country as a member of the President's 
Foreign Intelligence Advisory Board and as Chairman of a task force on 
modernizing financial management at the Pentagon. Steve is a graduate of 
Cornell University, and he holds a law degree from Columbia University 
and serves as chairman emeritus of that university's board.
    I'm delighted that Steve will be joining the White House staff as 
Assistant to the President for Economic Policy and Director of the 
National Economic Council.
    He replaces a dear friend, Larry Lindsey. I appreciate so very much 
Larry's service to our country. He has a distinguished career here in 
the White House. He's earned the respect of the President and everybody 
who has worked with him.
    I selected Steve for his wide experience and steady and sound 
judgment. He understands the free enterprise system. He knows how the 
economy works. And he shares my objectives for stronger economic growth, 
high standards of corporate integrity, more small businesses across our 
Nation, and greater trade across the world.
    I will work with Steve and others on a growth and jobs package that 
we will present to the new Congress. In order to continue

[[Page 2162]]

our economic recovery, we will propose further steps to add new jobs, 
reduce the burden on our taxpayers, and to strengthen investor 
confidence. Our economy is strong, and we're going to make it even 
stronger. It's important work, and Steve Friedman will be a key member 
of our team. And I'm pleased to welcome him to full-time public service.
    Thank you very much, Steve. Appreciate it.

[At this point, Director Friedman made brief remarks.]

    The President. You're welcome. I'm glad you're here. Thank you all 
for coming.

Note: The President spoke at 4:05 p.m. in the Roosevelt Room at the 
White House. In his remarks, he referred to Director Friedman's wife, 
Barbara, and their children Susie, Caroline, David, and Sam. The 
transcript released by the Office of the Press Secretary also included 
the remarks of Director Friedman.