All the trappings of political power have come to Laura D'Andrea Tyson, 47, since her February promotion to chair of the National Economic Council. As coordinator of the administration's economic policies, she's arguably the most powerful woman in the president's inner circle and - along with Federal Reserve Chairman Alan Greenspan - one of the nation's most influential economists.

Last week, Tyson officially left her post as chairman of the three-member Council of Economic Advisers to devote herself full time to her new role. In doing so, she gave up a lot, including a huge, ornate office with high ceilings overlooking the Washington Monument. "Only in Washington can you rise in power and receive less" - less pay, free time and office space, jokes Tyson's husband, Erik Tarloff, a Hollywood screenwriter, who with their son, Elliot, 12, reluctantly followed her here. Now, they see Tyson more often, "but it's on C-Span," Tarloff says.