Ex-Fed's Volcker to head economic recovery group

Paul Volcker, a former chairman of the Federal Reserve, will head a new committee to foster growth and financial stability.

President-elect Barack Obama on Wednesday said that Volcker would head the Economic Recovery Advisory Board.

The new board will advise Obama on his plans for economic recovery, covering the design, implementation, and evaluation of programmes to foster growth, address the housing crisis and stabilise financial markets. The board will also focus on how the response to the

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