Obama names economic recovery team

WASHINGTON (2/09/09)—President Barack Obama Friday announced the members of his new Economic Recovery Advisory Board, to be led by former Federal Reserve Board Chairman Paul Volcker.

The announcement followed the release of statistics that showed the economy lost another 600,000 jobs last month.

In a blog posting on the White House website, Obama was quoted as saying his new board is comprised of Democrats and Republicans to ensure the policies it helps to develop "have the benefit of independent thought and vigorous debate."

In addition to Volcker and Staff Director and Chief Economist Austan Goolsbee, the board will be comprised of the following members:

• William Donaldson, chairman, SEC (2003-2005);

• Roger Ferguson Jr., president/CEO, TIAA-CREF;

• Robert Wolf, chairman/CEO, UBS Group Americas;

• David F. Swensen, CIO, Yale University;

• Mark T. Gallogly, founder and managing partner, Centerbridge Partners L.P.;

• Penny Pritzker, chairman and founder, Pritzker Realty Group;

• Jeffrey Immelt, CEO, GE;

• John Doerr, partner, Kleiner, Perkins, Caufield & Byers;

• Jim Owens, chairman/CEO, Caterpillar Inc.;

• Monica C. Lozano, publisher and CEO, La Opinion;

• Charles E. Phillips, Jr., President, Oracle Corp.

• Anna Burger, chair, Change to Win;

• Richard L. Trumka, secretary-treasurer, AFL-CIO;

• Laura D'Andrea Tyson, Dean, Haas School of Business at the University of California at Berkeley; and

• Martin Feldstein, George F. Baker Professor of Economics, Harvard University.