Obama creates an economic recovery board

Hmm... does it feel like someone who drives with both hands is taking hold of our economic steering wheel?

President-elect Barack Obama announced Wednesday that he is creating a new economic recovery board to provide a "fresh perspective" for his administration.

The board will be headed by Paul Volcker, who served as the chairman of the Federal Reserve from 1979 through 1987, serving under Presidents Carter and Reagan.

Following his tenure there, he worked in the private sector as an investment banker until 1996. Volcker also headed the investigation into the United Nations' oil-for-food program for Iraq.

"The reality is that sometimes policymaking in Washington can become a little bit too ingrown," Obama said at a news conference in Chicago, Illinois.

"The walls of the echo chamber can sometimes keep out fresh voices and new ways of thinking ... This board will provide that perspective to me and my administration, with an infusion of ideas from across the country and from all sectors of our economy," he said.

The new board will advise Obama on how to revive the ailing economy.
Obama senior adviser Austan Goolsbee will be the chief economist on the board. The group is expected to exist for two years, but could be extended for longer. The eight to 16 people involved will meet roughly once a month, two transition officials tell CNN.

Obama said he would announce the rest of the board members in the coming weeks.

It is exactly 55 days 0 hours 0 minutes until the Bush era is officially over (yes, I know, he checked out months ago).

UPDATE: More here.