Economic Recovery Advisory Board

United States government

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July 18, 2026

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The Economic Recovery Advisory Board was a United States government panel established in response to the global financial crisis of 2008. Its primary purpose was to advise the president on methods for stabilizing financial markets and creating jobs.1

Chaired by Paul Volcker, the board pushed for tougher financial regulations to prevent future crises. These proposals, known as the Volcker rule, aimed to restrict banks from engaging in proprietary trading and limit their investments in private equity and hedge funds. The board's work was incorporated into financial reform legislation passed in 2010. Volcker stepped down as head of the board in January 2011.12

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Paul Volcker
… selected Volcker to chair his Economic Recovery Advisory Board, a new White House panel established in response to the global financial crisis that had begun that autumn. The board’s purpose was to advise the president on methods for stabilizing financial markets and creating jobs. Volcker, who officially assumed the post…
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… selected Volcker to chair his Economic Recovery Advisory Board, a new White House panel established in response to the global financial crisis that had begun that autumn. The board’s purpose was to advise the president on methods for stabilizing financial markets and creating jobs. Volcker, who officially assumed the post…
Read More