President Obama will announce Thursday afternoon that he is nominating Jack Lew, the White House chief of staff and a former budget director for President Bill Clinton, as treasury secretary.
The two will appear together at 1:30 p.m. in the East Room of the White House. They will be joined by Treasury Secretary Timothy Geithner, the last remaining member of Obama’s original economic team, who wants to step down.
"Jack Lew will bring an impressive record of service in both the public and private sectors for over three decades and economic expertise to this important role, and his deep knowledge of domestic and international economic issues will enable him to take on the challenges facing our economy at home and abroad on day one," a White House official said. "Throughout his career, Jack Lew has proven a successful and effective advocate for middle class families who can build bipartisan consensus to implement proven economic policies."
Read today's full story.