An economic advisory board that will "meet regularly and provide advice directly to the President," was established today with the signing of an Executive Order by Barack Obama. According to a White House press release:
... the Board will meet regularly and provide advice directly to the President on the programs to jump-start economic growth and facilitate economic stability. The Board will also focus on how the response to the short-run economic crisis is laying the groundwork for the reforms necessary for longer-run prosperity.
Serving as chairman of the group will be Paul Volker, former Chairman of the Federal Reserve.