President Joe Biden announced on Friday that he will nominate professor Jay Shambaugh as the Treasury Department’s undersecretary for international affairs.

Shambaugh, a professor of economics and international affairs, served as a member of the Biden administration transition team’s Council of Economic Advisers prior to his inauguration. Shambaugh also serves as the director of the Elliott School of International Affairs’ Institute for International Economic Policy.

“Honored that President Biden announced his intent to nominate me to be the undersecretary for international affairs in the Treasury Department,” Shambaugh tweeted on Friday.

Shambaugh did not immediately return a request for comment.

In addition to his roles at GW, Shambaugh is a research associate at the National Bureau of Economic Research and a non-resident senior fellow in economic studies at the Brookings Institution.

In former President Barack Obama’s administration, Shambaugh was a member of the White House Council of Economic Advisers from 2015 to 2017. He had earlier served on the council’s staff as chief economist.

Prior to arriving at GW, Shambaugh taught at Georgetown University and Dartmouth College. Shambaugh also was director of the Hamilton Project at the Brookings Institution.

He earned his bachelor’s degree from Yale University in 1992 in addition to a master’s degree from Tufts University and a doctorate in economics from the University of California, Berkeley.

Alyssa Ayres, the dean of the Elliott School, said the nomination was “terrific news” in an email to Elliott School students and staff.

“While his nomination will require Senate confirmation, which could take some time, I hope you will all join me in congratulating him on this tremendous honor,” Ayres wrote. “What a great moment for the Elliott School!”