Washington - US President Barack Obama on Friday created a new bipartisan advisory board to develop solutions to the country's economic crisis as he warned lawmakers that immediate action was critical to pulling the US out of a serious recession.
The 17-member board, led by former Federal Reserve chairman Paul Volcker, includes conservative and left-leaning economists from academia, labour unions and business.
"This is just the beginning of a long journey back to progress and prosperity," Obama said in prepared remarks released by the White House.