US President Barack Obama, in another shift toward the political centre, named General Electric (GE) chief executive Jeffrey Immelt on Friday as a top outside economic adviser to help lift hiring.
“I am so proud and pleased that Jeff has agreed to chair this panel, my council on jobs and competitiveness, because we think GE has something to teach businesses all across America,” Obama told workers at a GE plant as he made the announcement.
The appointment was welcomed by the US Chamber of Commerce, with which Obama is trying to thaw relations that chilled over his health-care and financial regulatory reforms. But manufacturers who blame GE for outsourcing US jobs criticised the choice.
The council on jobs and competitiveness replaces an economic recovery advisory panel led by former Federal Reserve chairman Paul Volcker, who steps down when the panel dissolves next month.
“It’s a great thing that the economy is growing, but it’s not growing fast enough yet to make up for the damage that was done by the recession,” Obama said. “The next two years, our job now is to put our economy into overdrive.”
Senate Republican leader Mitch McConnell said he hoped the new panel would remind Obama of other steps the US could take to aid the economy, citing the need to increase free trade and avoid smothering business through regulation.
Bringing Immelt, a lifelong Republican, onto Obama’s team is the latest sign he is serious about building better ties with business.
Obama recently named JPMorgan Chase executive William Daley to be his chief of staff, drawing praise from the corporate world.
The president promised to rejuvenate relations with business in the aftermath of last year’s congressional elections, which gave Republicans a majority in the US House of Representatives and greater strength in the Senate.
The Chamber of Commerce, which fought Obama’s reforms, called the appointment “a promising step toward a renewed focus on creating jobs, boosting economic growth, and enhancing America’s global competitiveness”. – Reuters