Rahm Emanuel, president Barack Obama's high-profile chief of staff who helped push through major health care and financial regulatory reforms, stepped down on Friday to pursue a run for Chicago mayor.Obama praised Emanuel at a farewell ceremony at the White House. "It is fair to say we could not have accomplished what we accomplished without Rahm's leadership," he said.

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Pete Rouse, a long-time Obama adviser who helped orchestrate his presidential campaign, will step into the position temporarily.