The New Obama Economy Team

The New Obama Economy Team

Against a backdrop of swooning stock markets and plunging home prices, President-elect Barack Obama on Nov. 24 announced key members of his economic team. Hailing from academia and government, several are battle-hardened, market-oriented veterans of international financial crises.

Timothy GeithnerTreasury SecretaryAs chief of the New York Fed, Geithner, 47, has played a key role in the rescue of Wall Street. The Larry Summers protégé also has plenty of experience in dealing with emerging-market blowouts from his days at Treasury and the IMF.

Melody BarnesDirector, Domestic Policy CouncilA lawyer by training, Barnes, 44, is vice-president for policy at the Center for American Progress, a liberal think tank. She has counseled Senator Edward Kennedy and hosts a radio show called The Progressive Beat with Melody Barnes.

Lawrence SummersDirector, National Economic Councilummers' storied career has included stints as Treasury Secretary under Clinton, chief economist at the World Bank, and president of Harvard University. A brilliant scholar, Summers, 54, also has a knack for stirring up controversy.

Christina RomerDirector, Council of Economic AdvisersThe UC-Berkeley economics professor is an authority on the Great Depression and business cycles. Romer, 49, also sits on the National Bureau of Economic Research committee that officially calls the start and end of recessions.

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