He should, as Chamberlain and Churchill did when England was threatened by Germany, reach out not to just Keynesians like Paul Krugman, but to Conservative economic thinkers like Larry Lindsay.
In fact, I would pay good money to be in the room with Krugman and Lindsay.
There are many other economists but I happen to recognize those two names so they would be good anchors of the Left and the Right. They could be like the team captains in a pick-up baseball game - each choosing a member of the EWC until they got to seven or nine or whatever number the President deemed workable.
We wouldn't ask them to check their ideology at the door. We would want them to set their ideologies, like their iPads, in front of them at the table. The idea would be to have them apply their considerable intellects to the problem of seeking common ground within their ideologies to help get the nation's economies moving again.
There is no one economy of the United States. From the financial/service/engineering centers on the East and West coasts, to the vast agricultural areas between them, to the industrial Midwest (and increasingly the Southeast) there are many different economies.
It is quite likely that the EWC would decide that certain programs would help in Illinois and Michigan and others would be more beneficial to Iowa and Kansas.
If President Obama is looking for a bold idea that doesn't include the suffix -illion, the appointment of an Economic War Cabinet would be a good place to start.