[President] Barack Obama has chosen Jack Lew, his chief of staff and a longtime Democratic aide and budget expert, to replace Tim Geithner as Treasury secretary, according to people familiar with the situation.
Mr Geithner is expected to leave at the end of the month, with the administration hoping for a quick confirmation so Mr Lew, 57, can handle the upcoming round of budget talks with the authority of his new office.
Mr Obama’s appointment of Mr Lew reflects the president’s trust in him but also the priority placed by the administration on a range of contentious budget and economic issues, dominated by looming fights over the debt ceiling… (more)
