Politics on the Hudson

President-elect Barack Obama announced this morning he is appointing a committee headed by former Federal Reserve Chairman Paul Volcker to advise him how to get the nation’s economy back on track.

“This board is modeled on the president’s Foreign Intelligence Advisory Board created by President Eisenhower to provide rigorous analysis and vigorous oversight of our intelligence community by individuals outside of government – individuals who would be candid and unsparing in their assessment,’’ Obama said.  “This new board will perform a similar function for my administration as we formulate our economic policy. The board will be composed of distinguished individuals from diverse backgrounds outside of government – from business, labor, academia and other areas – who will bring to bear their wisdom and expertise on the formulation, implementation and evaluation of my administration’s economic recovery plan.  The board will report regularly to me, Vice President-Elect Biden and our economic team as we seek to jump-start economic growth, create jobs, raise wages, address our housing crisis and stabilize our financial markets.’‘