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Geithner Picked for Treasury

Friday, 21 November 2008

President-Elect Obama Said to Pick Geithner as Treasury Secretary

Timothy Geithner

Nov. 21 (Bloomberg) -- President-elect Barack Obama picked Timothy Geithner, head of the Federal Reserve Bank of New York, to be his Treasury secretary, with Lawrence Summers getting a senior White House role, a Democratic aide said.

Obama is also likely to nominate New Mexico Governor Bill Richardson as Commerce Secretary, and to announce his picks on Nov. 24, the person said on condition of anonymity.

Read the full story here.

Mr. Geithner was named on November 20, 2003, to serve as the ninth president and chief executive officer of the Second District Federal Reserve Bank, at New York. In that capacity, he serves as the vice chairman and a permanent member of the Federal Open Market Committee (FOMC). He is currently serving a full term that began March 1, 2006.