Obama Announces Transition Economic Advisory Board; Buffett, Volcker Among Members

The economic crisis will be front and center at President-elect Barack Obama's first press conference following his victory, the campaign announced Thursday. Obama will meet with economic leaders Friday morning, and will host his first press conference following the meeting.

The campaign announced the members of Obama's Transition Economic Advisory Board as the candidate prepares to take on what he has called the worst financial crisis since the Great Depression. The U.S. is in a severe economic slowdown and possible recession, and Obama has pledged to make an economic recovery one of his priorities once he assumes the presidency.

There will be several prominent members from both the private and public sectors on Obama's economic transition board, including billionaire investor Warren Buffett, former Treasury Secretaries Robert Rubin and Lawrence Summers, former Federal Reserve Chairman Paul Volcker, and former SEC Chairman William Donaldson.

Other members include former Michigan Rep. David Bonior, former SEC Commissioner Roel Campos, former U.S. Commerce Secretary William Daley, former Federal Reserve Vice Chairman Roger Ferguson, Michigan Governor Jennifer Granholm, Xerox Chairman and CEO Anne Mulcahy, Time Warner Chairman of the Board Richard Parsons, Hyatt CEO Penny Pritzker, former Secretary of Labor Robert Reich, Google Chairman and CEO Eric Schmidt, former National Economic Council and President's Council of Economic Advisors chairman Laura Tyson, and Los Angeles Mayor Antonio Villaraigosa.

The press conference is scheduled for12:30 pm ET/1:30 pm CT.

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