President-elect Barack Obama is faced with one of the biggest challenges ever faced by any American leader as the United States reels under a horrific financial crisis.
Job-creation would be one of Obama's top priorities as more than 250,000 jobs were lost in October and the unemployment rate surged to 6.5 per cent, its highest level since 1994.
Obama has said he would tackle the nation's financial crisis 'head on' and called on the Congress to approve a plan that would release funds for public works projects.
Obama has formed a Transition Economic Advisory Board of economists, business leaders and politicians. Obama held a meeting with his key economic advisors. Obama has also expressed concern about the country's top auto makers being on the verge of bankruptcy.
In the meeting, Obama expressed his worries about the millions of people who are struggling even to pay their basic bills. Calling it the greatest economic challenge of our lifetime, Obama plans to act swiftly to bailout the sinking economy.
Before we introduce you to 'Team Obama', here's a look at the Bush administration's economic panel.
The panel includes Chuck Blahous, Deputy Assistant to the President for Economic Policy; Pierce Scranton, Chief of Staff, Council of Economic Advisors; Eddie Lazear, Chairman, Council of Economic Advisors; Donald Marron, Senior Economic Advisor, Council of Economic Advisors; and Keith Hennessey, Assistant to the President for Economic Policy.
And now meet Obama's economic advisory team members who will assist him to take crucial steps to revive the economy from one of the worst crises. Read on. . .
Also read: Obama: The new-age digital President
Image: Barack Obama with some of his economic advisors including (L-R) Former Fed Chairman Paul Volker, SEIU Secretary-Treasurer Anna Burger and Citi Group Director and Chairman of the Executive Committee Robert Rubin at the Omni Shoreham hotel in Washington, DC.| Photograph: Chip Somodevilla/Getty Images
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