Former Harvard President Lawrence Summers will be the director of the National Economic Council. Summers will coordinate economic policy-making and economic policy advice for the president Obama also named Christina Romer, as director of the Council of Economic Advisors, and Melody Barnes, as director of the Domestic Policy Council.

Obama had words of appreciation for his team members. Geithner has earned the confidence and respect of business and community leaders. Larry has earned a global reputation for being able to cut to the heart of the most complex and novel policy challenges.

Romer is best known for her work on America's recovery from the Great Depression and the robust economic expansion that followed. He lauded Barnes for her work dedicated to find solutions for struggling middle class families.

Read on to find out what plans Obama has in hand to revive the economy...

Image: Obama appoints Timothy Geithner (upper L) as Treasury Secretary, Christina Romer (lower L) as Council of Economic Advisers Chair, Lawrence Summers (upper R) as director of the National Economic Council (NEC), and Melody Barnes (lower R) as Domestic Policy Council director.| Photograph: Saul Loeb/AFP/Getty Images

Also read: Obama's mantra: More jobs, less outsourcing

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