Tags: Economic | Recovery | Board

Economic Recovery Board Sees Return to Normalcy

Wednesday, 20 May 2009 01:59 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

WASHINGTON — President Barack Obama on Wednesday welcomed a "return to normalcy" in some sectors of the financial markets as he gathered a blue-chip board of independent financial advisors.

Obama met his 16-member Economic Recovery Advisory Board, headed by former Federal Reserve chief Paul Volcker, in a meeting concentrating largely on energy policy.

The president opened the talks, held in the White House and streamed live on the Internet, by stressing he wanted to move from tackling the depths of the crisis to building a sustainable economic model to head off future shocks.

"We're pleased that we've seen some progress, that there is some return to normalcy in certain aspects of the financial markets," Obama said.

"But obviously one of the things that I've been concerned about since I took office is looking beyond the immediate crisis in front of us to find out what is a sustainable economic model post-bubble and bust."

Obama set up the advisory board to provide him with advice independent of the counseling he gets from his top economic advisors, to ensure a flow of fresh ideas from outside his inner circle.

Volcker said after the meeting there had been "remarkable consensus" on the need to engineer the economy so it creates "green jobs" and new forms of energy generation.

Another board member, John Doerr, a prominent venture capitalist, warned the United States could not afford to get left behind in the chase for environmentally friendly technologies.

"What we need to do is generate great green jobs and make sure America leads in the new green economy," he said.

"We are in the race, but we are not at the head of the race."

Copyright © 2009 AFP. All rights reserved.

-

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Leon Panetta: US Should Have Stayed in Iraq, Armed Syrian Rebels

Friday, 19 Sep 2014 19:26 PM

Former Defense Secretary Leon Panetta told CBS News that some U.S. troops should have remained in Iraq after President B . . .

Army Chief of Staff: Troops and Time Needed in ISIS Fight

Friday, 19 Sep 2014 19:01 PM

Army chief of staff Gen. Ray Odierno said fighting the Islamic State (ISIS) will likely take more troops – and time – an . . .

Alibaba Soars 40% in Debut: 'We Want to Be Bigger Than Wal-Mart'

Friday, 19 Sep 2014 16:18 PM

Alibaba debuted as a publicly traded company Friday and swiftly climbed nearly 40 percent in a mammoth IPO that offered  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved