Obama Names Paul Volcker To Lead White House Economic Recovery Group

Barack Obama today named former Fed Chairman (from 1979 to 1987) Paul Volcker to lead a White House panel on economic recovery. Volcker steered the economy through a nasty recessionary and inflationary period and is no stranger to crisis management—he was successful in righting the ship, but his consumer legacy remains higher interest rates.

The panel’s top staff official will be Austan Goolsbee, a University of Chicago economist.