Obama nominates Jack Lew to succeed Geithner at Treasury
WASHINGTON (REUTERS) - President Barack Obama on Thursday nominated his chief of staff, Mr Jack Lew, as the next Treasury secretary, praising him as a expert on the pressing national issues of spending cuts and deficit reduction.
Mr Lew will succeed Mr Timothy Geithner and take the lead on difficult negotiations with Congress on how to cut the nation's massive debt and rein in spending - a central challenge for Mr Obama's second term.
Mr Lew, a 57-year-old New Yorker who has previously served as White House budget chief, is likely to face tough questioning from Republicans in his Senate Finance Committee confirmation hearing after a bruising year-end battle over tax increases on the wealthy. He appears likely to win Senate confirmation.
Mr Obama described Mr Lew as "a low-key guy who prefers to surround himself with policy experts rather than television cameras", and said the son of a Polish immigrant had a deep belief in public service.