Tagged: Timothy Geithner

Outgoing Treasury Secretary Timothy Geithner has had a bruising four years. He took office when the U.S. economy was plunging into the worst recession since the Great Depression.

Nominating Jack Lew as Geithner's successor Thursday, President Obama praised his departing Treasury secretary for helping to get the economy back on track.

A re-elected president who gets to choose a second-term Cabinet has much more knowledge of the kind of team he needs than he did the first time around.

That's one simple way to understand President Obama's decisions as he creates his Cabinet 2.0.

The choices are not those of a president-elect who hasn't moved into the White House, or of a green president who hasn't watched his first international crisis unfold from his leather seat in the White House Situation Room.

Update: At 6 a.m. ET. Jan. 10, White House Announcement:

The White House has officially confirmed that President Obama will nominate his chief of staff, Jacob "Jack" Lew, to be the next Treasury secretary. According to a statement, the announcement is scheduled for 1:30 p.m. ET today (Thursday).

NPR's Scott Horsley had more about the nomination on Morning Edition.