U.S. President-elect Barack Obama says he has directed his economic
team to develop a plan to create two-and-a-half million jobs by January
In Saturday's Democratic radio address, Mr.
Obama said details of his economic recovery plan are still being worked
out, but he promised to sign it soon after taking office on January
The incoming president says the two-year action plan will lay the
foundation for a strong and growing economy and put people back to work
rebuilding roads, modernizing schools, and developing new energy
U.S. media report Mr. Obama will announce his economic team on Monday.
News agencies say Mr. Obama will nominate Timothy Geithner, head of the
Federal Reserve Bank of New York, to be his Treasury secretary.
Geithner is one of the top central bank officials who set U.S. interest
rate policy and made other decisions aimed at keeping inflation and
unemployment in check.
Meanwhile, the office of former presidential candidate Hillary Clinton
has denied reports that she has decided to give up her Senate seat and
accept the position of secretary of state. But a spokesman said talks
with the Obama transition team are on track.