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The Presidency of Barack Obama- The Fourth Week of Transition

The fourth week of the Obama Transition began with Obama announcing his new economic team. His team is made up of New York Federal Reserve President Timothy Geithner as his Treasury Secretary nominee and former Harvard President Lawrence Summers as the director of the National Economic Council. In addtion Obama announced that University of California-Berkeley economics professor Christina Romer will be the chair of the President's Council of Economic Advisers.

Text of Speech

The other major announcement of the fourth week was the announcement of the creation of

The President's Economic Recovery Advisory Board. The Board is modeled on the President's Foreign Intelligence Advisory Board created by President Eisenhower to provide rigorous analysis and vigorous oversight of the US intelligence community by individuals outside of government -- individuals who would be candid and unsparing in their assessment. This new board will perform a similar function for the Obama Administration as we formulate our economic policy.