NEW YORK - Former White House economic adviser Martin Feldstein has been elected a director of J.P. Morgan & Co. and its principal subsidiary, Morgan Guaranty Trust Co. of New York.

Mr. Feldstein, 53, is president of the National Bureau of Economic Research and is George F. Baker professor of economics at Harvard University. He was chairman of the Council of Economic Advisers from 1982 to 1984.

A New York native and graduate of Harvard College and Oxford University, Mr. Feldstein is a member of the American Philosophical Society, the Trilateral Commission, and the Council on Foreign Relations, among other affiliations.

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