Obama unveils economic team

U.S. President-elect Barack Obama on Monday 24th November,2008 unveiled his Economic team pick to shore up financial markets and tackle the worst financial crisis since the Great Depression in 1930s.

Top on the list as his nominee for Treasury secretary is Timothy Geithner the current head of the Federal Reserve Bank of New York who played a large role in the Citigroup rescue plan. And former Harvard University President and Treasury Secretary Lawrence Summers will be head of the National Economic Council.

Obama also named former Harvard University President and Treasury Secretary, Lawrence Summers, to head the White House Economic Council.

Also named is a Professor in Economics at the University of California; Berkeley; Christina Romer as the head of the Nation Council of Economic Advisers.

Governor Bill Richardson of New Mexico as commerce secretary
Melody Barnes, a longtime aide to Senator Edward Kennedy, Democrat of Massachusetts is also named as Director of National Domestic Policy Council.

Obama's top economic appointments has received praises from Media and politicians. Quoting Senator Richard Shelby, a Republican from Alabama, told ABC that Geithner's expected nomination is "overall a good appointment."

Obama is scheduled Tuesday to name his budget director, Peter Orszag, who held the job under President Bill Clinton, and is expected to outline new budget reforms that will call on Americans to make sacrifices.