Obama establishes the Economic Recovery Advisory Board, which is headed by former Federal Reserve chief Paul Volcker, and the Domestic Policy Council.
The president also took the opportunity to urge Congress to pass a stimulus bill. “Now is the time for Congress to act. It’s time to pass an Economic Recovery and Reinvestment Plan to get our economy moving,†said Obama.
The Labor Department announces almost 600,000 jobs were lost in January. (Photo source: White House)