Obama’s Economic Team (UPDATED)
I’m generally unmoved by the naming of Cabinet officials, White House staff, etc. no matter who it is. To me, it matters more what you do than who you pick.
That said, the reaction has been pretty positive to Obama naming his economic team of Tim Geithner for Treasury Secretary, Lawrence Summers as director of his National Economic Council, Christina Romer as chair of his Council of Economic Advisers, Peter Orszag for head of OMB, and Melody Barnes as director of his White House Domestic Policy Council.
Did I say “generally positive?” The Economist went postively weak-in-the-knees over Obama’s pick of Geithner saying, “…ah glorious, glorious competence. How we’ve missed you.” Alrighty then.
Chris Bowers wasn’t impressed with the pick however.
Robert Reich, whose opinion I always stop to at least listen to, had good things to say overall:
All are pragmatists. Some media have dubbed them “centrists” or “center-right,” but in truth they’re remarkably free of ideological preconception. All have well-earned reputations as hard workers, well-versed in the technical details of public and private finance. They are not visible veterans of the old battles over supply-side economics or deficit reduction, nor are they well-known to the public. They are not visionaries but we don’t need visionaries when the economic perils are clear and immediate. We need competence. Obama could not appoint a more competent group.
But like I said, I’m mostly “enh” over this phase of the game.
UPDATE: Dr. Doom — renowned economic pessimist Nouriel Roubini — likes Obama’s picks, too:
He’s choosing people who are pragmatic and who realize the severity of the national problem we’re facing. They’re knowledgeable about markets, about the economy and the political process in Washington. These are the very best people he could have chosen. I can’t look too far, but it’s a very good signal of what he wants to do.
[...] a wise man convinced me that it’s best to judge what they do instead of what they say, I’m in good [...]