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Obama to nominate chief of staff as Treasury Secretary: Reports

US President Barack Obama has decided to nominate his Chief-of-Staff Jack Lew as his next Treasury Secretary to replace Timothy Geithner.



Washington: US President Barack Obama has decided to nominate his Chief-of-Staff Jack Lew as his next Treasury Secretary to replace Timothy Geithner, media reports said today.
An announcement in this regard could come as early as tomorrow, reports said.
"Lew`s nomination comes a week after Washington barely averted a fiscal cliff free fall and just as lawmakers gird for a series of three new fiscal dramas, a looming debt ceiling breach and the start of the spending sequester in two months, and a possible government shutdown in late March," Politico reported.

Treasury Secretary Timothy Geithner has said that he would like to leave the post by the end of the month.

Lew, 57, previously served as Director of the Office of Management and Budget in the Clinton and Obama Administration, and is a member of the Democratic Party.

PTI

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