The morning line, Nov. 24, 2008

Obama will hold a press conference at noon eastern time (11 a.m. in Chicago) announcing the makeup of his economic team. In addition to previously reported team members Timothy Geithner (Treasury), Bill Richardson (Commerce) and Lawrence Summers (head of the National Economic Council), Politico reports that Christina Romer, "an expert on tax cuts and recessions who is an economics professor at the University of California at Berkeley," has been selected to chair Obama's Council of Economic Advisers.

The announcement will come on the heels of the government's Sunday night agreement to spend tens of billions of dollars to ensure the troubled assets of banking giant Citigroup, in exchange for warrants to buy stock in the company.

The expected size of Obama's stimulus plain continues to rise. The Wall Street Journal reports that Obama's aides are crafting a two-year, $500 billion plan, which they hope to have on Obama's desk on his inauguration day, Jan. 20. The Washington Post says the plan may reach $700 billion in spending and tax cuts.

Meanwhile, the Wall Street Journal reports that outgoing Treasury Secretary Henry Paulson, is now considering dipping into the second half of the government's $700 billion financial-industry rescue fund, "and rolling out new programs in response to worsening market conditions."

Desirée Rogers, a Chicago businesswoman, will be named the first African American White House social secretary, the Washington Post reports. Rogers was a major fundraiser for Obama's campaign, raising at least $200,000. She also contributed $28,500 to various committees supporting Obama.