Friday, January 21, 2011

Obama's Economic Advisor Steps Down

US President Barack Obama has announced the departure of former Federal Reserve chairman Paul Volcker as the head of the Economic Recovery Advisory Board.

"Since my campaign for President, I have relied on Paul Volcker's counsel as we worked to recover from the worst economic crisis since the Great Depression," the Associated Press quoted Obama as saying late Thursday.

With an intention to restructure his economic advisory board, Obama named General Electric CEO Jeffrey Immelt as the new head.'


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