U.S. President-elect Barack Obama says he has directed his economic team to develop a plan to create two-and-a-half million jobs by January of 2011.
In Saturday's Democratic radio address, Mr. Obama said details of his economic recovery plan are still being worked out, but he promised to sign it soon after taking office on January 20th.
The incoming president says the two-year action plan will lay the foundation for a strong and growing economy and put people back to work rebuilding roads, modernizing schools, and developing new energy technologies.
U.S. media report Mr. Obama will announce his economic team on Monday.
News agencies say Mr. Obama will nominate Timothy Geithner, head of the Federal Reserve Bank of New York, to be his Treasury secretary.
Geithner is one of the top central bank officials who set U.S. interest rate policy and made other decisions aimed at keeping inflation and unemployment in check.
Meanwhile, the office of former presidential candidate Hillary Clinton has denied reports that she has decided to give up her Senate seat and accept the position of secretary of state. But a spokesman said talks with the Obama transition team are on track.