Revealed: Obama’s new economic team

U.S. president-elect Barack Obama has named his economic team which will be pivotal in guiding the country through the current economic crisis.

President of the New York Federal Reserve Bank, Timothy Geithner, has been appointed Treasury Secretary, while Lawrence Summers, a former Treasury Secretary himself, will head the National Economic Council.

“I've sought leaders who could offer both sound judgment and fresh thinking,” said Obama. “Both a depth of experience and a wealth of bold new ideas and most of all who share my fundamental belief that we cannot have a thriving Wall Street without having a thriving Main Street. That in this country we rise or fall as one nation, as one people.”

The new team will take office in January when the Obama administration comes to power.