Associated Press
CHICAGO — Former Federal Reserve chairman Paul Volcker will head a new White House panel to help President-elect Barack Obama create jobs and bring stability to the ailing financial system.
Volcker, 81, will head the President’s Economic Recovery Advisory Board. The board’s top staff official will be Austan Goolsbee, a University of Chicago economist, Obama’s office said Wednesday.
Obama was expected to introduce members of the advisory board today at a news conference, his third in as many days as the long Thanksgiving weekend nears. It was a remarkable burst of public activity for Obama, who has sought to assure nervous consumers and financial markets that he will bring swift economic relief as president.
Tuesday, Obama introduced Congressional Budget Office Director Peter Orszag as his candidate to run the White House Office of Management and Budget. The president-elect also pledged a "page-by-page, line-by-line" budget review to root out unneeded spending.
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On Monday, Obama tapped New York Federal Reserve President Tim Geithner as his treasury secretary and named several other top economic advisers.
