President-elect Barack Obama, moving to tackle the U.S. financial crisis, is announcing his economics team at noon EST today in Chicago.

obam2_1124_E_20081124131453.jpgEuropean Pressphoto Agency

President-elect Barack Obama introduces his economics team; from left, Timothy Geithner, Christina Romer, Lawrence Summers, Melody C. Barnes, Vice President-elect Joseph Biden.

The major players have already been made public, including Timothy Geithner, president of the New York Federal Reserve Bank, who was picked for Treasury secretary, Lawrence Summers, a Treasury secretary in the Clinton administration, who will be director of the National Economic Council, and Christina Romer, a University of California-Berkeley professor, who will head the White House Council of Economic Advisers.

The Obama-Biden transition put out a formal announcement moments before the press conference was to start. It also released the text of Obama’s remarks.

Washington officials and financial markets are eager to find out Obama’s plans to reverse the economy’s slide – and will have two days to parse the Obama transition team’s announcement on economic appointments. On Tuesday, a second round of appointments is expected. The chief one: Peter Orszag, director of the Congressional Budget Office and a former Clinton economic adviser, will be White House budget director.

Also, University of Chicago economist Austan Goolsbee, who advised Obama during the campaign, is expected to be named to a top slot.