Larry Summers to be Obama's senior economic adviser [View All]

[DCBob]

Summers to Be Top White House Economic Adviser at NEC
November 22, 2008 5:19 PM

ABC News has learned that President-elect Obama has decided to name former Treasury Secretary Larry Summers the director of the National Economic Council, essentially the president's senior economic adviser.Part of the Executive Office of the President, the NEC was created for the purpose of advising the President on matters related to U.S. and global economic policy. The NEC has four functions, by executive order: ensuring that programs and policy decisions are consistent with the President's economic goals, monitoring the implementation of the President's economic policy agenda, coordinating policy-making for domestic and international economic issues, and coordinating economic policy advice for the President.

Summers was the 71st Secretary of the Treasury, serving from July 1999 until the end of the Clinton administration in January 2001, having previously served as undersecretary for international affairs and deputy secretary of the Treasury. He also served as chief economist of the World Bank.

more: http://blogs.abcnews.com/politicalpunch/2008/11/summers-to-be-c.html
=======

Obama is assembling an economic "dream team". This will likely settle the markets and give some confidence, at least in the short term. We will see what they can do once they take control in January.