News release: “President-elect Barack Obama announced the establishment of the President’s Economic Recovery Advisory Board. Modeled on the Foreign Intelligence Advisory Board created by President Dwight D. Eisenhower to provide an independent voice on intelligence issues, the new Economic Recovery Advisory Board will be charged with offering independent, nonpartisan information, analysis, and advice to the President as he formulates and implements his plans for economic recovery. The Economic Recovery Advisory Board will provide regular briefings to the President, Vice President and their economic team. The Board will be established initially for a two-year term, after which the President will make a determination on whether to continue its existence based on its continued necessity…Paul Volcker, the Chairman of the Federal Reserve from 1979-87, will serve as Chair of the Board. Volcker is one of the world’s foremost economic policy practitioners with vast experience in managing economic crises.”