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Web Update: Volcker '49 to head Obama's economic recovery board

Former Federal Reserve Chairman Paul Volcker '49 has been chosen to head a new economic advisory board for President-elect Barack Obama. The board will advise Obama on how to best deal with the current economic situation.

There is a need for a "fresh perspective" in dealing with the economy, Obama said at a press conference Wednesday.

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Volcker, a Wilson School graduate, led the charge against inflation during his tenure as Federal Reserve chairman from 1979 to 1987.

More to come... 

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