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Obama's team needs to move quick, some say

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Democratic president-elect Sen. Barack Obama (D-IL) addresses supporters at a massive outdoor rally in Grant Park in Chicago on November 4, 2008. His Republican opponent, Sen. John McCain (R-AZ) conceded the election in speech to supporters earlier in the evening. (UPI Photo/Brian Kersey) 
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Published: Nov. 5, 2008 at 12:45 PM
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WASHINGTON, Nov. 5 (UPI) -- Economic analysts said U.S. President-elect Barack Obama will need to act quickly and confidently to lessen the pain of an economic slowdown.

Nariman Behravesh, chief economist for HIS Global Insight said Obama should act quickly to "minimize the depth and duration of the recession," USA Today reported Wednesday.

Obama should first push for a "decisive, swift and big economic stimulus," package, Behravesh said.

The other key move for the president-elect will be to find a replacement for outgoing U.S. Treasury Secretary Henry Paulson Jr.

At the Treasury in Washington, officials have already granted a transition team space on the second floor, the newspaper said.

Paulson has "been in touch with both candidates for many weeks," Treasury spokeswoman Brookly McLaughlin said. "This won't be starting from scratch."

"The key element here is confidence," another chief economist, Greg Valliere, at the Stanford Financial Group said.

Topics: Nariman Behravesh
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