Timothy Geithner

Summers out of Fed chief chase

Summers out of Fed chief chase

For weeks, Lawrence Summers had been considered the leading candidate to succeed Ben Bernanke as Federal Reserve chairman. A renowned economist, Summers built close ties to President Barack Obama when he led the president’s National Economic Council in 2009 and 2010. In that role, he helped orchestrate the administration’s efforts to combat the financial crisis […]

Why Tim Geithner was a divisive Treasury Secretary

Why Tim Geithner was a divisive Treasury Secretary

President Barack Obama has saluted the outgoing Timothy Geithner as one of the best U.S. Treasury secretaries ever. He’s surely been among the most contentious. Not since the Great Depression had an administration inherited so many grave financial threats at once. To many, Geithner deserves credit for helping steady the banking system and helping restore […]

What new Treasury Secretary nominee doesn’t know could be a problem

What new Treasury Secretary nominee doesn’t know could be a problem

President Barack Obama broke the mold on Thursday by choosing a budget wonk to serve as U.S. Treasury secretary, leaving gaps on the international and financial side that could make for a rocky transition. Jack Lew, Obama’s chief of staff, was chosen to lead the Treasury Department as the White House heads into another round […]

Obama turns a page at Treasury with Lew nomination

Obama turns a page at Treasury with Lew nomination

Jack Lew, President Barack Obama’s nominee for treasury secretary, is a premier federal budget expert who would take the helm of the government’s main agency for economic and fiscal policy just as the administration girds itself for a new confrontation with congressional Republicans over the nation’s debt and deficits. Obama will nominate Lew on Thursday […]

Geithner leaving Treasury post: Trouble for Obama?

Geithner leaving Treasury post: Trouble for Obama?

Treasury Secretary Timothy Geithner‘s plans to leave near the end of January put the White House in a tricky spot, depriving the Obama administration of its longest-serving economic adviser for its next fiscal showdown with Congress. Geithner, who spent his years as Treasury secretary battling the financial crisis and then fighting with Republican lawmakers in […]

No deal in sight as ‘fiscal cliff’ deadline nears

No deal in sight as ‘fiscal cliff’ deadline nears

Lawmakers are engaged in a playground game of “who goes first,” daring each political party to let the year end without resolving a Jan. 1 confluence of higher taxes and deep spending cuts that could rattle a recovering, but-still-fragile economy. President Barack Obama returns from Hawaii Thursday to this increasingly familiar deadline showdown in the […]

Reid: Time to reform the tax code

Reid: Time to reform the tax code

The U.S. tax code is “ripe” for reform and fixing it will be a top priority for Democrats this year, Senate Majority Leader Harry Reid said on Thursday. Both parties agree the voluminous tax code needs a rewrite and the Democratic-led Senate and Republican-led House of Representatives will begin hearings soon on an overhaul. “I […]

Debt limit already a hot-button issue for GOP

Debt limit already a hot-button issue for GOP

In power scarcely a day, House Republicans bluntly told the White House on Thursday its request to raise the nation’s $14.3 trillion debt limit will require federal spending cuts to win their approval, laying down an early marker in a new era of divided government. Speaker John Boehner made the challenge as the new GOP […]