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Marketplace Morning Report

Reports: Obama to nominate Lew for Treasury Secretary

Nancy Marshall-Genzer Jan 9, 2013
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Reports say that President Obama will put forth Jack Lew as his nominee to be the next Secretary of the Treasury in an announcement tomorrow. Lew is presently Obama’s chief of staff.

Jack Lew, who joined the Obama administration in 2008 when Obama first took office, has spent most of his career in government with a brief stint on Wall Street as a managing director for Citigroup from 2006-2008.

Lew would replace current Treasury Secretary Timothy Geithner. As reports of the planned nomination break today, congressional watchers have begun to speculate about Lew’s chances at confirmation.

Lew’s relationship with Republicans in Congress has been strained at times — some Senate Republicans have even described Lew as “tone-deaf” and unwilling to compromise. In the latest fiscal cliff negotations, Lew reportedly upset Senate Minority Leader Mitch McConnell (R-Ky.).

To hear Marketplace Washington reporter Nancy Marshall-Genzer take on the nomination, click on the audio player above.


As New York Magazine points out, Jack Lew’s signature may be even worse than Geithner’s, who last year talked about his signature with Marketplace.

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