Obama on New Economic Team: “We Don’t Have a Minute to Waste”

At a Chicago press conference, the president-elect names Geithner as treasury secretary, Summers as director of the National Economic Council and Christina Romer as head of the Council of Economic Advisors. Click above for a clip. All the details on the announcements here. "I look forward to working closely with them in the months ahead. And that work starts today, because the truth is, we don't have a minute to waste." Also takes reporters' questions on stimulus package, tax cuts, auto industry. Read prepared remarks here. Will hold another presser Tuesday to discuss the federal budget, "meaningful cuts and sacrifices" needed.