Obama to Nominate Lew for Treasury

    FILE - In this Jan. 9, 2012, file photo Jack Lew, the administration's current budget director listens as President Barack Obama makes an announcement in the State Dining Room of the White House in Washington. Obama announced that Lew become his Chief of Staff. The Monday, Feb. 13, 2012, release of the president’s 2013 budget proposal will ask Congress to devote millions for a new trade enforcement center and more U.S. inspectors in China as the administration takes aim at unfair trade practices. (AP Photo/Susan Walsh, File)

    Jack Lew at the White House in Feb. 2012. (Susan Walsh/AP)

    Geithner out, Lew in. President Obama is expected to nominate his chief of staff, Jack Lew, to be the next Treasury secretary, Bloomberg News reports. Lew was previously the director of the Office of Management and Budget. He would replace Timothy Geithner, who told the White House he plans on leaving at the end of the month. One of his first orders of business: navigating the next congressional debate on the debt ceiling. Also, Lew has been universally mocked for his odd signature, which may soon have a spot on all U.S. paper currency.

    Read it at Bloomberg News