Obama Names Volcker to Head New Economic Advisers

[Hissyspit]

Source: Asssociated Press

Obama names Volcker to head new economic advisers

By BETH FOUHY and DAVID ESPO, Associated Press Writers – 1 min ago

CHICAGO – President-elect Barack Obama chose former Federal Reserve Chairman Paul Volcker Wednesday to head a new White House panel to help 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 said at a news briefing.

Volcker is no stranger to economic crises. He became Fed chairman in 1979, a time of high inflation and high unemployment. He helped tame inflation by raising interest rates, a move that helped plunge the economy into recession. He was later credited with reviving the economy by getting inflation under control. Volcker served as Fed chairman until 1987.

He returns as an adviser with the nation facing increasing unemployment, a growing federal budget deficit and a financial system in turmoil.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

Read more: http://news.yahoo.com/s/ap/20081126/ap_on_go_pr_wh/obama_economy

[Name removed]

1. Deleted message

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[snappyturtle]

2. What you said. nt

[quidam56]

3. Obama has really impressed me with his advisers

Am anxiously waiting to hear his advisers on EPA and Energy....

END MOUNTAIN TOP REMOVAL !

http://www.wisecountyissues.com

[percussivemadness]

4. You know, I think Obama may just pull us out of this.

He is selecting some heavy duty people...