US President Barack Obama has named a list of economic experts to sit on a new Economic Recovery Advisory Board and provide independent advice on the economic crisis.
Former US Federal Reserve Chairman Paul Volcker will lead the newly created panel and advise on possible remedies for the recession and long-term threats to the economy.
Mr Volker said the new advisory panel shares ‘a sense of urgency’ on the economy.
‘The figures this morning simply reinforce that and I can't imagine that the Congress won't share this sense of urgency,’ Mr Volcker said.
New figures released earlier showed that unemployment rose to 7.6% last month, the worst rate in 16 years and one-month loss since 1974. 3.6m people have now lost jobs since the recession began.
Mr Obama said today that delays by the US Senate on a huge stimulus bill were 'irresponsible' and 'inexcusable' as hundreds of thousands more Americans lose their jobs.
The US President significantly stiffened the tone of his rhetoric as the US Senate slogged on through more hours of acrimonious debate on the $900bn package, which is crucial to the credibility of the administration.
