Breaking Tim Geithner news from Bloomberg. The Treasury Secretary plans to leave Washington before the debt ceiling debate, Hans Nichols reports.That means he’ll probably be gone by the end of January. And it means we won’t have a battle hardened Treasury Secretary in office for what is sure to be Washington’s next knock-down, drag-out fight.
Nichols also writes that the hunt for the next Treasury Secretary is still on. White House Chief of Staff Jack Lew may still be the frontrunner, but his lack of experience in the financial sector (he only spent two years as a Managing Director at Citigroup) doesn’t make him ideal.
Administration officials had approached American Express Co. Chief Executive Officer Kenneth Chenault about joining Obama’s second-term cabinet, possibly as Treasury secretary. Chenault isn’t interested in leaving his private sector job, according to a spokesman. “Ken has no plans to leave American Express,” said Michael O’Neill, a spokesman for the New York-based company, declining further comment.
Point is, we imagine a lot of people in Washington are still making a lot of phone calls about this one. The Treasury, meanwhile, is staying mum.
“Secretary Geithner has previously stated that he plans to be at Treasury until around the inauguration,” said a Treasury spokesperson. “We do not plan to make any further announcements about the timing of the Secretary’s departure until after his successor is named.”