President-elect Barack Obama announced a new economic advisory panel on Wednesday in his third economic press conference in as many days and pledged to the American people that “help is on the way.” In Chicago, Obama announced the creation of the President's Economic Recovery Advisory Board, to be headed by former Federal Reserve Chairman Paul Volker. He said the panel will be responsible for providing analysis and oversight of his administration's economic policy. “As we chart a course to economic recovery, we must ensure that our government, your government, is held accountable,” Obama said. Volcker, will be joined by University of Chicago economist Austan Goolsbee, who will be the top staff official on the panel. “They are there to challenge some of our assumptions to make sure that we are not just doing the same thing all the time,” Obama said.
