February 27, 2021

Geithner Will Stay for Now, the Treasury Department Says

“Secretary Geithner has let the president know that he plans to stay on in his position at Treasury,” Jenni R. LeCompte, a Treasury spokeswoman, said in a written statement. “He looks forward to the important work ahead on the challenges facing our great country.”

Mr. Geithner, 49, said a month ago that he would decide on his future after the administration and Congress reached a deal to increase the nation’s debt limit, raising the possibility that he would step down. Mr. Obama signed the debt ceiling legislation into law last Tuesday.

But the White House pressed Mr. Geithner to stay, citing a need for stability in Mr. Obama’s economic team and a desire to avoid another confrontation with Senate Republicans, who have used the filibuster to delay or prevent votes on many of Mr. Obama’s nominees to important executive branch positions.

By late last week, administration officials were saying privately that it appeared Mr. Geithner would stay through the end of Mr. Obama’s term, although he had not yet told the White House his final decision, pending conversations with his family.

Jay Carney, the White House spokesman, said in a statement on Sunday, “The president asked Secretary Geithner to stay on at Treasury and welcomes his decision.”

Article source: http://feeds.nytimes.com/click.phdo?i=f46204da7e18be3f3a7e70f15ff190f3

Speak Your Mind