Global Financial Strategy - Geithner: Obama won't pick me again

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Geithner: Obama won’t pick me again

Thursday 26 January 2012 – by Andrew Hickley

US Treasury secretary Timothy Geithner has revealed that he does not expect President Barack Obama to keep him on if he is re-elected.

“He’s not going to ask me to stay on, I’m pretty confident,” Geithner said in an interview with Bloomberg television.

“I’m confident he’ll be President. But I’m also confident he’s going to have the privilege of having another secretary of the Treasury.”

The 50-year-old has been dogged by rumours that he would resign from the post, with reports suggesting he would leave after the battle with Congress last year to raise the country’s debt ceiling.

Should Geithner leave it would represent a complete turnaround of Obama’s top economic team, which has seen a raft of resignations during the President’s first few years in charge.

Christina Romer resigned her post as chairman of the Council of Economic Advisors in September 2010, followed by Larry Summers stepping down from his post as first director of the National Economic Council.

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Geithner may step down from Treasury

Romer’s successor Austan Goolsbee left in August 2011, while Peter Orszag also quit last year as director of the Office of Management and Budget in order to join Citibank.

When questioned Geithner said that his next role would be “something else”.

Geithner added that he has no concerns over Wall Street’s complaints on new regulations imposed by the Dodd Frank Act.

He says: “I would not worry too much about them. I would worry more about the basic confidence of Americans that they’re going to face more opportunities, more likely to find a job, keep a job, save for college, save for a dignified retirement.”

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