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Paul Kiesel
Paul Kiesel
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Obama Names Economic Dream Team

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Earlier today, at a press conference in Chicago, President-elect Barack Obama called for "sound judgment and fresh thinking" in addressing the nation’s economic crisis, which he described as a situation of "historic proportions." He then named his top White House economic team, prompting many in the press, based on Obama’s selections, to label the group that will push forward Obama’s policies and vision, "The Obama Economic Dream Team."

Here is the list of players with some biographical information:

Timothy Geithner: Treasury Secretary (will need to be confirmed by the Senate)

Mr. Geithner is currently the president of the New York Federal Reserve who worked very closely with Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke to facilitate the Wall Street financial bailouts of the past year.

Larry Summers: Director of the National Economic Council.

Mr. Summers, a former Treasury Secretary (for the last year and a half of the Bill Clinton administration), is currently the Charles W. Eliot University Professor at Harvard University’s Kennedy School of Government.

Christina Romer: Chairwoman of Obama’s Council of Economic Advisers

Ms. Romer has been an economics professor at the University of California at Berkeley, since 1988. This selection might later on be hailed as one of the more important advisory appointments that Obama made in his days leading up to taking office. Why?

Ms. Romer’s e early work focused on a comparison of macroeconomic volatility before and after World War II. Romer showed that much of what had appeared to be a decrease in volatility was due to better economic data collection.

She has also researched the causes of the Great Depression in the United States and how the US recovered from the depression.

This sort of erudite individual can make a substantial impact on Obama’s economic policy and her background in and heavy research of the economics surrounding the Great Depression is very applicable to the current financial state in the country.

Melody Barnes: Director of Domestic Policy Council

Ms. Barnes, an attorney and Executive Vice President for Policy at the Center for American Progress, has been serving on the advisory board for President-elect Barack Obama’s presidential transition team.