By Henry J. Pulizzi Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- President Barack Obama will introduce his new Economic Recovery Advisory Board Friday, a panel of dignitaries from the world of economics and business, including General Electric Chief Executive Jeffrey Immelt and Harvard Professor Martin Feldstein.
The group, led by former Federal Reserve Chairman Paul Volcker, will meet regularly and give the president advice on reviving the dormant U.S. economy. Obama announced the creation of the board in November, saying it would provide independent ideas to help him avoid the Washington "echo chamber."
But the panel's full membership remained a mystery until Friday, when Obama is scheduled to introduce the 15 people joining Volcker and White House economist Austan Goolsbee on the board. In addition to Immelt and Feldstein, the board will include former Securities and Exchange Commission Chairman William Donaldson; TIAA-CREF President and CEO Roger Ferguson; UBS Group Americas CEO Robert Wolf; John Doerr, partner at Kleiner, Perkins, Caufield & Byers; and Laura D'Andrea Tyson, dean of the Haas School of Business at the University of California at Berkley.
The group adds luster to a White House already brimming with economic star power. Critics worry, however, that the collection of brains could muddy the policy-making process as advisers compete for prominence.
Obama currently receives a daily briefing on the economy and is in regular contact with Treasury Secretary Tim Geithner, National Economic Council Director Lawrence Summers and other top advisers.
The new economic advisory board is modeled on President Dwight D. Eisenhower's Foreign Intelligence Advisory Board. An administration official said it would initially be established for two years. After two years, Obama will decide whether its lifespan should be extended.
Other members of the board include David F. Swensen, Chief Investment Officer at Yale University; Mark T. Gallogly, founder of Centerbridge Partners L.P.; Penny Pritzker, Chairman of Pritzker Realty Group; Jim Owens, Chairman and CEO of Caterpillar Inc.; Monica C. Lozano, Publisher & CEO of La Opinion; Charles E. Phillips Jr., President of Oracle Corp.; Anna Burger, Secretary-Treasurer of the Service Employees International Union; and Richard L. Trumka, Secretary-Treasurer of the AFL-CIO.
-By Henry J. Pulizzi, Dow Jones Newswires; 202-862-9256; henry.pulizzi@dowjones.com
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Publié le 06 Février 2009 Copyright © 2009 Dowjones