Washington - New York Federal Reserve Chairman Timothy Geithner is set to become US treasury secretary in president-elect Barack Obama's administration, US broadcaster NBC reported Friday. Obama will unveil his entire economic team including Geithner on Monday, offering some clarity on who will manage the world's largest economy in a time of global economic crisis.
Geithner has worked closely since September with current Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke as the government has battled to avert a collapse of the US financial industry.
Geithner has headed the Federal Reserve Bank of New York since 2003 and has held positions in the Treasury since 1988. Geithner also directed policy at the International Monetary Fund before taking the New York Fed job.
NBC also reported that New Mexico Governor Bill Richardson will take the job of commerce secretary. Richardson, who ran for the 2008 Democratic presidential nomination but later endorsed Obama, served as energy secretary under former president Bill Clinton.
