Obama names former Fed chief to head economic recovery

Other News Materials 26 November 2008 20:16 (UTC +04:00)

US president-elect Barack Obama named former Federal Reserve chief Paul Volcker Wednesday to head his advisory board for leading the United States out of the economic crisis, reported dpa.

Obama created the Economic Recovery Advisory Board to offer independent and non-partisan analysis of the economic crisis and formulate ideas for reversing the trend.

Volcker, 81, served as chairman of the Federal Reserve from 1979 to 1987 and is a highly regarded worldwide for his vast understanding of policy.