It's real, and was created by Executive Order 12631, signed on March 18, 1988 by United States President Ronald Reagan, although the official name was different.
It consists of:
- The Secretary of the Treasury, or his or her designee (as Chairperson of the Working Group);
- The Chairperson of the Board of Governors of the Federal Reserve System, or his or her designee;
- The Chairperson of the Securities and Exchange Commission, or his or her designee; and
- The Chairperson of the Commodity Futures Trading Commission, or his or her designee.
Considering the recent market decline, they must be sleeping on the job again.