Economic Recovery Advisory Board

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The Economic Recovery Advisory Board was a small group established by President-elect Obama in late Nov. 2008. Its mission is to offer independent nonpartisan advice on economic issues, especially regarding the Recession of 2008. It is a public platform for its head Paul Volcker. Volcker was the Chairman of the Federal Reserve from 1979–87, under presidents Jimmy Carter and Ronald Reagan. The staff director is Austan Goolsbee, professor of economics at the University of Chicago and a personal friend of Obama.

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