Obama names economic brain trust

President-elect Barack Obama named his economic team on Monday and said they would begin working immediately on a recovery plan to create 2.5 million jobs and make investments for long-term sustained growth.



   Obama selected New York Federal Reserve President Timothy Geithner to be Treasury Secretary, subject to Senate confirmation.



   Lawrence Summers, a former Treasury secretary under President Bill Clinton, was named director of the National Economic Council, Obama's counterpart to a National Security Council.



   University of California-Berkley professor Christina Romer was named chairman of the Council of Economic Advisors.



   Melody Barnes will be director of the Domestic Policy Council. She was executive vice president for policy at the Center for American Progress and chief counsel to Sen. Edward Kennedy on the Senate Judiciary Committee.



   Obama said the team will develop a major economic stimulus plan of the size and scope necessary to get this economy back on track, but declined to put a dollar value on the nascent plan. He has said a large portion of his plan will be targeted at infrastructure investment. 

Source: American Shipper