AFL-CIO Secretary-Treasurer Richard Trumka has been named to the new economic advisory panel that will serve as President Obama’s team of experts.
Trumka will join a who’s who list of top economists, corporate executives and academics. The White House Economic Recovery Advisory Board, which is modeled after the Foreign Intelligence Advisory Board used by President Eisenhower in the 1950s, will be chaired by former Federal Reserve chairman Paul A. Volcker.
The economic advisory board is part of an overall push by the Obama White House to ensure that repairing—and strengthening—the nation’s economy remains at the top of the administration’s agenda. In December, Jared Bernstein of the Economic Policy Institute (EPI) was named economic adviser to Vice President Joe Biden. Bernstein is a passionate advocate for raising the incomes of America’s working middle class.
Trumka, who was re-elected to a fourth term as Secretary-Treasurer of the AFL-CIO in 2005, led the creation of the AFL-CIO Capital Stewardship Program in 1997 to promote the retirement security of America’s working families. AFL-CIO member unions sponsor pension and benefit plans with more than $400 billion in assets and are a major force in the global capital markets.
Under Trumka’s leadership, the AFL-CIO Capital Stewardship Program promotes corporate governance reform, investment manager accountability, pro-worker investment strategies, international pension fund cooperation and trustee education and support.
In recent days, Obama also announced creation of a White House Task Force on Middle Class Working Families to develop and coordinate policies to rebuild the nation’s middle class and lift the poor out of poverty. Workers can submit stories and ideas about how the economy has affected them and ideas on changing it. (The task force website is: www.strongmiddleclass.gov/ )
Other members of the 15-member economic advisory board include:
- Laura D’Andrea Tyson, dean of the Haas School of Business at the University of California-Berkeley.
- Roger Ferguson Jr., president and chief executive of TIAA-CREF and a former vice chairman of the Federal Reserve Board of Governors.
- Robert Wolf, chairman and chief executive of UBS Group.
- Charles Phillips, president of Oracle Corp.
- David Swensen, chief investment officer at Yale University.
- Jeffrey Immelt, chief executive of General Electric.
- Penny Pritzker, chairman and founder of Pritzker Realty Group.
See the full list here.