President's Economic Recovery Advisory Board
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High Quality Content by WIKIPEDIA articles! The President's Economic Recovery Advisory Board is a new panel of non-governmental experts from business, labor, academia and elsewhere that President of the United States Barack Obama created on February 6, 2009.The board will report regularly to Obama and his economic team on the current economic crisis and possible responses to it. Obama announced this new board on November 26, 2008, and also announced that it will be chaired by former Federal Reserve Chairman Paul Volcker with campaign economic adviser Austan Goolsbee as staff director and chief...
High Quality Content by WIKIPEDIA articles! The President's Economic Recovery Advisory Board is a new panel of non-governmental experts from business, labor, academia and elsewhere that President of the United States Barack Obama created on February 6, 2009.The board will report regularly to Obama and his economic team on the current economic crisis and possible responses to it. Obama announced this new board on November 26, 2008, and also announced that it will be chaired by former Federal Reserve Chairman Paul Volcker with campaign economic adviser Austan Goolsbee as staff director and chief economist. In March 2007, Goolsbee wrote a New York Times op-ed arguing that Congress should not tighten regulations to make subprime lending more difficult. Goolsby said that a mortgage market where "people's decisions [are] unrestricted by the amount of money they have right now" is "more perfect, not more irresponsible." Notably, defaults in subprime mortgages helped trigger the global economic crisis of 2008.
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