01/05/2011 04:37 pm ET Updated May 25, 2011

Volcker To Step Down As Head Of White House Panel

WASHINGTON, Jan 5 (Reuters) - Former Federal Reserve Chairman Paul Volcker plans to leave his role as head of panel of experts advising U.S. President Barack Obama on the economy, sources familiar with the decision said on Wednesday.

The departure of Volcker as head of the President's Economic Recovery Advisory Board is among a series of changes that have been under review at the White House.

The decision to leave the PERAB was Volcker's. A source close to him said he was ready to "continue to advise" Obama on an informal basis as often as the president would like.

(Writing by Caren Bohan; Editing by Sandra Maler)

Copyright 2010 Thomson Reuters. Click for Restrictions.