(WASHINGTON) — President Obama will name his current chief of staff Jack Lew for Treasury secretary, replacing Timothy Geithner, sources tell ABC News.
An announcement is expected as early as tomorrow.
As chief of staff for the past year and budget director before that, Lew has been intimately involved in the negotiations with Congress on the debt ceiling, averting a government shutdown and the fiscal cliff — experience that will come in handy from the moment he is confirmed.
Officials familiar with the selection process say Lew was the only person under serious consideration to replace Timothy Geithner as Treasury secretary.
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