Essential

Volcker On Board

Obama’s economic brain trust keeps on growing: At his third press conference in as many days, Obama announced the creation of a new economic recovery advisory board led by Paul Volcker, the former Federal Reserve chairman. The president-elect said that the board, whose White House liason will be longtime Obama economic advisor Austan Goolsbee, would provide oversight and an outside perspective to prevent "groupthink" from taking hold. He also responded to a question on whether his cabinet picks, many of whom worked in the Clinton administration, were in fact the same Washington insiders he pledged to push out of government during his campaign. "What we are going to do is combine experience with fresh thinking. But understand where the vision for change comes from first and foremost--it comes from me," Obama said, "That's my job--to provide a vision as to where we're going and make sure my team is implementing."