Obama Announces His "Money Team"

By Marcus Gilmer in News on Nov 24, 2008 10:47PM

At a press conference today, President-Elect Barack Obama presented what is being called his "money team," his economic advisers who will attempt to help him turn the economy around once he takes office in January. At the presser, his second since his November 4 election win, he announced the following members of his economic team:

• Treasury Secretary-designate Timothy Geithner, the head of the New York branch of the Federal Reserve
• National Economic Council Director-designate Lawrence Summers, the former Clinton Administration Treasury secretary
• Director of White House Policy Council-designate Melody Barnes
• Council of Economic Advisers Chair-designate Christina Romer from the University of California-Berkeley

Obama says the first order of business on the economy is working with Congress to pass a new stimulus plan that would go into effect shortly after his inauguration and would create 2.5 million jobs over the next two years, though he was vague about details, saying only, "It is going to be of a size and scope necessary to get this economy on track." So you're saying it's bigger than a breadbox? He also expressed frustration with auto industry execs who have asked Congress for a $25 billion bailout, calling the industry important to America but lamented, “I was surprised they didn’t have a better thought out proposal when they arrived at Congress." In addition to those named today, officials are telling the press that after Thanksgiving Obama plans to name New Mexico governor Bill Richardson as commerce secretary. If you missed it, you can watch Obama's press conference below. [Trib, S-T]