Seems like some pretty strong people to help form policy initiatives. What a strong contrast to the previous form of making policy: "Hey Dick. Hey Karl. What do you wanna do?"
-------------------
Obama names outside economic advisory panel
Published: Friday February 6, 2009
President Barack Obama on Friday charged a new Economic Recovery Advisory Board to provide him with independent advice on pulling the United States out of recession.
The president signed an executive order formally creating the board which will hold regular briefings for Obama and Vice President Joe Biden and will be under the chairmanship of former Federal Reserve chief Paul Volcker.
The board will be modelled on the Foreign Intelligence Advisory Board that offers the president an independent viewpoint on intelligence issues, the White House said.
Volcker, 81, played a prominent role during Obama's election campaign, providing him with economic advice and gravitas as the US finance meltdown developed.
The announcement came on a day when new government data showed unemployment surging to 7.6 percent -- the highest since 1992, as 598,000 jobs were cut.
Among other business figures on the new board were Obama supporter Penny Pritzker, chairman of the Pritzker Realty Group and former Obama campaign finance chair, Charles Phillips, President of the Oracle Corporation and Laura D'Andrea Tyson, a former Clinton administration economic official.
Also on the 15 person board is Jeffrey Immelt, the chief executive of GE and Martin Feldstein, a professor of Economics at Harvard University.
Friday's announcement came as the president tries to push Congress to pass his 900-billion-dollar economic stimulus plan and ahead of an expected announcement of more finance industry rescue measures next week.
Earlier, Christina Romer, chairwoman of the president's council of economic advisers said the new jobs data showed the urgency for fast action by Congress.
"Today's report from the Bureau of Labor Statistics is the latest evidence that the US economy is contracting greatly," she said.
"These numbers, and the very real suffering of American workers they represent, reinforce the need for bold fiscal action," Romer said.
"If we fail to act, we are likely to lose millions more jobs and the unemployment rate could reach double digits.
"Prompt, well-designed fiscal policy is necessary to stop the decline and heal the economy.
"The American people are counting on leadership from Washington to help the economy recover and lay the long-term foundation for long-term economic growth."
The US unemployment rate rose in January to 7.6 percent, the Labor Department reported earlier.
The number of job losses for the recession-hobbled economy was the worst since 1974, according to the monthly department report on non-farm payrolls, seen as one of the best indicators of economic momentum.
-------------------
Obama names outside economic advisory panel
Published: Friday February 6, 2009
President Barack Obama on Friday charged a new Economic Recovery Advisory Board to provide him with independent advice on pulling the United States out of recession.
The president signed an executive order formally creating the board which will hold regular briefings for Obama and Vice President Joe Biden and will be under the chairmanship of former Federal Reserve chief Paul Volcker.
The board will be modelled on the Foreign Intelligence Advisory Board that offers the president an independent viewpoint on intelligence issues, the White House said.
Volcker, 81, played a prominent role during Obama's election campaign, providing him with economic advice and gravitas as the US finance meltdown developed.
The announcement came on a day when new government data showed unemployment surging to 7.6 percent -- the highest since 1992, as 598,000 jobs were cut.
Among other business figures on the new board were Obama supporter Penny Pritzker, chairman of the Pritzker Realty Group and former Obama campaign finance chair, Charles Phillips, President of the Oracle Corporation and Laura D'Andrea Tyson, a former Clinton administration economic official.
Also on the 15 person board is Jeffrey Immelt, the chief executive of GE and Martin Feldstein, a professor of Economics at Harvard University.
Friday's announcement came as the president tries to push Congress to pass his 900-billion-dollar economic stimulus plan and ahead of an expected announcement of more finance industry rescue measures next week.
Earlier, Christina Romer, chairwoman of the president's council of economic advisers said the new jobs data showed the urgency for fast action by Congress.
"Today's report from the Bureau of Labor Statistics is the latest evidence that the US economy is contracting greatly," she said.
"These numbers, and the very real suffering of American workers they represent, reinforce the need for bold fiscal action," Romer said.
"If we fail to act, we are likely to lose millions more jobs and the unemployment rate could reach double digits.
"Prompt, well-designed fiscal policy is necessary to stop the decline and heal the economy.
"The American people are counting on leadership from Washington to help the economy recover and lay the long-term foundation for long-term economic growth."
The US unemployment rate rose in January to 7.6 percent, the Labor Department reported earlier.
The number of job losses for the recession-hobbled economy was the worst since 1974, according to the monthly department report on non-farm payrolls, seen as one of the best indicators of economic momentum.
