Former Federal Reserve Chairman Paul Volcker will chair a new economic advisory panel created by President-elect Barack Obama and designed to stabilize financial markets, the Wall Street Journal reported on Wednesday. The report was confirmed during Obama's press conference later in the morning, when the president-elect himself announced the appointment.
Quoting Democratic officials, the newspaper reported on its Web site that University of Chicago economist and Obama policy adviser Austan Goolsbee will serve as the panel's staff director.
Members of the President's Economic Recovery Advisory Board will come from a cross-section of citizens outside the government, the Journal said.
The economic panel announcement is the third in three days for President-Elect Obama, who has rolled out his economic team quickly, as promised. Here's a recap of the team so far:
::Barack Obama's Economic Team: Big news and all the headlines
::New York Times Editorial: Geithner And Summers "Have Played Central Roles" In Provoking Crisis
::Obama Appoints Berkeley Professor Christina Romer to Chair Council of Economic Advisers
::Obama's Economic Team: Reactions Roundup