CHICAGO (AP) -- Former Federal Reserve chairman Paul Volcker will head a new White House panel to guide President-elect Barack Obama as he tries to create jobs and bring stability to the nation's economy.
Obama is expected to introduce the 81-year-old Volcker as head of the President's Economic Recovery Advisory Board at a news conference later this morning. He's also expected to name University of Chicago economist Austan Goolsbee as the board's top staff official.
The news conference will be Obama's third of the week. All of them have focused on his economic team, as Obama tries to assure nervous Americans and financial markets that he will bring swift economic relief.
Earlier this week, Obama announced plans for a massive economic stimulus that Democrats say could cost as much as $700 million. He's stated no goals for reducing the record federal deficit, but yesterday pledge a "line-by-line" budget review to eliminate unneeded spending.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.