The president-elect looks to reassure the financial markets and the public with swift Cabinet appointments and aggressive policy plans. By Peter Wallsten Reportingfrom Washington -- With a series of forceful actions in recent days,amid an almost unprecedented set of challenges, Barack Obama has takenan unusual step for a president-elect: attempting to alter thecountry's perilous course even before he takes office.The most dramatic example came Saturday, when Obama announced a far more aggressive economic stimulus planthan previously promised -- a two-year program to add 2.5 million jobsthat he said represented "an early down payment on the type of reformmy administration will bring to Washington."That announcement was the latest indication that the president-electhas decided to use the transition period to influence events at a timeof crisis, when the current administration appears powerless to stop aslide. "There's no question that Bush is still president, but people arelooking for signs to see what's going to happen going forward," said anObama aide who, like others, requested anonymity when discussingdeliberations inside the transition. "We're going to attempt to do thatin this period." Obama has moved with unusual speed to fill most of his top White Housestaff positions. And over the last week, he settled on a number of keyCabinet appointments designed to remove the uncertainty that hassparked turbulence in the financial markets and to replace it with asense of confidence in the administration-in-waiting. He offered theall-important job of Treasury secretary to a pragmatic and experiencedregulator, Timothy F. Geithner, and reached out to former campaignrival Hillary Rodham Clinton, an experienced figure known around theworld, to be the country's top diplomat. After the Geithner selectionwas reported Friday, the Dow Jones industrial average soared nearly 500 points. On Monday...
The president-elect looks to reassure the financial markets and the public with swift Cabinet appointments and aggressive policy plans. By Peter Wallsten
Reporting
from Washington -- With a series of forceful actions in recent days,
amid an almost unprecedented set of challenges, Barack Obama has taken
an unusual step for a president-elect: attempting to alter the
country's perilous course even before he takes office.
The most dramatic example came Saturday, when Obama announced a far more aggressive economic stimulus plan
than previously promised -- a two-year program to add 2.5 million jobs
that he said represented "an early down payment on the type of reform
my administration will bring to Washington."
That announcement was the latest indication that the president-elect
has decided to use the transition period to influence events at a time
of crisis, when the current administration appears powerless to stop a
slide.
"There's no question that Bush is still president, but people are
looking for signs to see what's going to happen going forward," said an
Obama aide who, like others, requested anonymity when discussing
deliberations inside the transition. "We're going to attempt to do that
in this period."
Obama has moved with unusual speed to fill most of his top White House
staff positions. And over the last week, he settled on a number of key
Cabinet appointments designed to remove the uncertainty that has
sparked turbulence in the financial markets and to replace it with a
sense of confidence in the administration-in-waiting. He offered the
all-important job of Treasury secretary to a pragmatic and experienced
regulator, Timothy F. Geithner, and reached out to former campaign
rival Hillary Rodham Clinton, an experienced figure known around the
world, to be the country's top diplomat. After the Geithner selection
was reported Friday, the Dow Jones industrial average soare