Obama Names Volcker to Head New Economic Advisory Board

(Reuters) – US President-elect Barack Obama on Wednesday announced a new panel to advise him on stabilizing financial markets as his latest effort to tackle problems ailing the US economy.

President -elect Barack Obama promised to instill more confidence in the federal budget system and eliminate unnecessary programs.The man who will be responsible for the White House budget office — overseeing cuts in the federal budget and simultaneously overseeing a costly stimulus package will be Peter Orszag who now runs the Congressional Budget Office.Jon Decker reports

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