Stimulus: Just a Stupid Economic Policy Fad

Bloomberg.com | Thur- Feb 5, 2009 | Robert Schmidt and Julianna Goldman
Volcker Chafes at Obama Panel Delay, Strains With Summers Rise

Paul Volcker has grown increasingly frustrated over delays in setting up the economic advisory group President Barack Obama picked the former Federal Reserve chairman to lead, people familiar with the matter said.

Volcker, 81, blames Obama’s National Economic Council Director Lawrence Summers for slowing down the effort to organize the panel of outside advisers, the people said. Summers isn’t regularly inviting Volcker to White House meetings and hasn’t shown interest in collaborating on policy or sharing potential solutions to the economic crisis, they said.

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