(MarketWatch) -- President Barack Obama plans to nominate Alan Krueger, a Princeton University labor economist, to be chairman of the White House Council of Economic Advisers, The Wall Street Journal reported, citing an unnamed White House official. Krueger previously was an assistant Treasury secretary during the Obama admnistration and chief economist for the Labor Department during the Clinton administration. Krueger would fill the position Austan Goolsbee vacated when he returned to his teaching post at the University of Chicago.