Obama appointed responsible for the salvation of the U.S. economy.

U.S. President Barack Obama and former head of the Fed Paul Volcker announced a list of persons who enter the Council to restore the economy (Economic Recovery Advisory Board), reports Bloomberg. The Council will advise the current government in supporting economic growth, as well as to check how government measures to improve the economic situation, by now, will affect the long-term prospects for the American economy.
The board includes, in particular: the ex-chairman of the Securities and Exchange Commission, William Donaldson, head of General Electric Jeffrey Immelt, professor at Harvard University, Martin Feldstayn and head office of Swiss bank UBS in the Americas, Robert Wolf.
The Council will work within two years. After that, Obama will decide whether to extend the term of office.
In establishing this commission administration Obama took as an example of the Advisory Council on the intelligence activities of the Presidency of the United States. This structure provides independent from the majority opinion of the state bodies on issues related area of intelligence.
One of the first tasks of the economic council will be monitoring the results of applying the economic rescue plan, now before Congress. The total amount of funds allocated under this program amounts to 819 billion dollars.