The president-elect makes his third appearance this week on the economy in Chicago.

Names former Fed chairman Paul Volcker to head a new White House panel designed to boost the economy and stabilize financial markets.

Click above to watch a clip.

Read Obama’s prepared comments, and read the transition release here.

Says his goal in staffing his economic team is to “combine experience with fresh thinking.”

TIME’s Justin Fox: “Given Volcker’s history, it is awfully interesting.”

RNC response: “He fails to explain how he will pay for massive spending increases outside of raising taxes….”