This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/world/americas/us_elections_2008/7715365.stm

The article has changed 19 times. There is an RSS feed of changes available.

Version 4 Version 5
Obama prepares to meet the media Obama to tackle economy 'head-on'
(about 2 hours later)
US President-elect Barack Obama is set to hold his first news conference since his election victory. US President-elect Barack Obama has pledged to confront the economic crisis "head-on" immediately after taking office in January.
The sagging US economy is expected to take centre stage as Mr Obama and his Vice President-elect Joe Biden meet members of the media. In his first news conference since his election victory, he promised a "rescue plan for the middle class".
Before the news conference in Chicago, the pair will hold talks with a 17-member council of economic advisers. He was joined by Vice President-elect Joe Biden as they met members of the media in a Chicago hotel.
The president-elect's transition team said no further personnel announcements were expected to be made on Friday. Before the news conference, the pair held talks with a 17-member council of economic advisers.
Mr Obama has already appointed as his chief-of-staff Illinois congressman Rahm Emanuel, who was once an adviser to President Bill Clinton. Clinton-era Treasury Secretary Larry Summers and his predecessor, Robert Rubin, as well as Paul Volcker, who was chairman of the Federal Reserve under presidents Jimmy Carter and Ronald Reagan, attended the meeting.
Obama campaign strategist David Axelrod is expected to take on the role of senior White House adviser - a post previously held by Karl Rove and Dan Bartlett under President George W Bush. Another aide, Robert Gibbs, is expected to become White House press secretary. Google chief executive Eric Schmidt and billionaire investor Warren Buffet joined the talks.
Jobs warning
Analysts say Wall Street wants reassurance after the US labour department said on Friday the economy had shed 240,000 jobs in October, bringing job losses so far this year to 1.2 million.
WHAT HAPPENS NEXT 9 Dec: Deadline for states to resolve issues such as recounts or challenges15 Dec: Electoral college electors meet in each state to formally cast their votes6 Jan: Joint session of Congress to count electoral college votesBefore 20 Jan: Barack Obama and Joe Biden must resign from the Senate20 Jan: Inauguration day Transition timetableProfile: Rahm EmanuelObama's top economic contendersObama shapes teamWHAT HAPPENS NEXT 9 Dec: Deadline for states to resolve issues such as recounts or challenges15 Dec: Electoral college electors meet in each state to formally cast their votes6 Jan: Joint session of Congress to count electoral college votesBefore 20 Jan: Barack Obama and Joe Biden must resign from the Senate20 Jan: Inauguration day Transition timetableProfile: Rahm EmanuelObama's top economic contendersObama shapes team
Mr Obama and Mr Biden will go into the news conference after meeting their team of economic advisers, who include the Clinton-era Treasury Secretary, Larry Summers, and his predecessor, Robert Rubin. Analysts say the president-elect's mind will be focused by figures from the US labour department on Friday which revealed the economy had shed 240,000 jobs in October, bringing job losses so far this year to 1.2 million.
Paul Volcker, chairman of the Federal Reserve under Presidents Jimmy Carter and Ronald Reagan, and Google chief executive Eric Schmidt are also attending. BBC North America editor Justin Webb says Mr Obama is under pressure to name a treasury secretary soon in order to improve confidence in the markets, but a lesson of his rise to power has been that he picks his own pace.
The billionaire investor, Warren Buffet, is joining the meeting by phone.
BBC North America editor Justin Webb says Mr Obama is also under pressure to name a treasury secretary soon in order to improve confidence in the markets, but a lesson of his rise to power has been that he picks his own pace.
He is said to be considering Mr Summers, Mr Volcker, and Timothy Geithner, president of the New York Federal Reserve Bank.He is said to be considering Mr Summers, Mr Volcker, and Timothy Geithner, president of the New York Federal Reserve Bank.
Mr Obama is also working with Democratic leaders in Congress on plans for two economic stimulus packages, which reportedly will include tax cuts for low- and middle-income workers, and plans to finance public infrastructure projects, to extend unemployment and food-stamp benefits, and to provide aid to badly affected states and cities. Mr Obama, who takes office on 20 January, has already appointed as his chief-of-staff combative Illinois congressman Rahm Emanuel, who was once an adviser to President Bill Clinton.
Obama campaign strategist David Axelrod is expected to become senior White House adviser - a post previously held by Karl Rove under President George W Bush.
Another aide, Robert Gibbs, is expected to become White House press secretary.
Mr Obama is also working with Democratic leaders in Congress on plans for two economic stimulus packages.
This reportedly will include tax cuts for low- and middle-income workers, and plans to finance public infrastructure projects, to extend unemployment and food-stamp benefits, and to provide aid to badly affected states and cities.
Mr Obama is due to discuss the economy with President Bush at the White House on Monday. He will not, however, attend the G20 economic summit to be held in Washington next weekend, senior officials have said.Mr Obama is due to discuss the economy with President Bush at the White House on Monday. He will not, however, attend the G20 economic summit to be held in Washington next weekend, senior officials have said.