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| Version 2 | Version 3 |
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| Obama 'to unveil Treasury chief' | Obama 'to unveil Treasury chief' |
| (about 1 hour later) | |
| US President-elect Barack Obama will name Timothy Geithner as his choice for the key role of treasury secretary on Monday, a senior adviser says. | |
| Senior strategist David Axelrod told US TV networks that Mr Geithner, currently head of the Federal Reserve Bank of New York, was the "right man" for the job. | Senior strategist David Axelrod told US TV networks that Mr Geithner, currently head of the Federal Reserve Bank of New York, was the "right man" for the job. |
| Unconfirmed reports naming Mr Geithner first came on Friday, boosting New York shares by 6.5% after days of losses. | Unconfirmed reports naming Mr Geithner first came on Friday, boosting New York shares by 6.5% after days of losses. |
| On Saturday, Mr Obama said the economy needed to create 2.5m jobs by 2011. | On Saturday, Mr Obama said the economy needed to create 2.5m jobs by 2011. |
| In a weekly address, he said he wanted to rebuild America's ageing infrastructure, including roads and bridges, as well as develop sources of renewable energy. | In a weekly address, he said he wanted to rebuild America's ageing infrastructure, including roads and bridges, as well as develop sources of renewable energy. |
| Experience stressed | Experience stressed |
| The president-elect's new economic team will be charged with revitalising the US economy, which is faltering badly amid the global downturn. | The president-elect's new economic team will be charged with revitalising the US economy, which is faltering badly amid the global downturn. |
| KEY APPOINTMENTS Chief of staff: Rahm Emanuel, a deputy chief of staff to Bill ClintonSenior advisers: David Axelrod, Valerie Jarrett, Peter Rouse and John Podesta (formerly chief of staff to Bill Clinton)Press secretary: Robert GibbsWhite House counsel: Greg Craig, formerly special counsel to Bill ClintonVice-president's chief of staff: Ron Klain, formerly chief of staff to Al GoreStaff secretary: Lisa Brown, formerly counsel to Al Gore Obama's team so far class="" href="/1/hi/world/americas/us_elections_2008/7744755.stm">Profile: Timothy Geithner Mr Geithner, 47, is expected to work with Lawrence Summers, a former treasury secretary in the Bill Clinton White House who has also served as president of Harvard University. | |
| Mr Summers is likely to be named as head of the president's National Economic Council, reports have said. | Mr Summers is likely to be named as head of the president's National Economic Council, reports have said. |
| The pair worked together closely at the Treasury during the 1990s, with reports suggesting they have a strong working relationship. | The pair worked together closely at the Treasury during the 1990s, with reports suggesting they have a strong working relationship. |
| Speaking on Sunday talk shows, Mr Axelrod, the chief campaign strategist who is taking up a role as a senior advisor to the incoming president, praised Mr Geithner's experience and ability. | Speaking on Sunday talk shows, Mr Axelrod, the chief campaign strategist who is taking up a role as a senior advisor to the incoming president, praised Mr Geithner's experience and ability. |
| "Tim Geithner is someone who had experience in dealing with economic crises as the assistant secretary of treasury for international affairs in the '90s," he said. | "Tim Geithner is someone who had experience in dealing with economic crises as the assistant secretary of treasury for international affairs in the '90s," he said. |
| "He's intimately involved with the situation now in his role as president of New York Fed [Federal Reserve]. | "He's intimately involved with the situation now in his role as president of New York Fed [Federal Reserve]. |
| "By temperament and experience, he's the right man to lead the Treasury now," Mr Axelrod added. | "By temperament and experience, he's the right man to lead the Treasury now," Mr Axelrod added. |
| Lawrence Summers was treasury boss at the close of the Clinton yearsGiving his first Sunday interviews since accepting Mr Obama's offer to become a senior advisor, Mr Axelrod said the incoming administration was considering all aspects of the economic crisis in its efforts to drag the US away from recession. | |
| Speaking to ABC News, he refused to deny that Mr Obama was considering an economic stimulus package in excess of the $175 billion (£118bn) he pledged during the election campaign. | |
| Charles Schumer, a leading Democratic senator, said the figure needed to be somewhere between $500bn and $700bn, Reuters news agency reported. | |
| The president-elect would do "what's necessary", Mr Axelrod told ABC, adding: "I think we're going to have to do a combination of things to get the economy moving again." | |
| Mr Axelrod also said plans to repeal President George W Bush tax cuts for top earners, another campaign pledge of Mr Obama's, were being reconsidered. | |
| The tax cuts are currently due to expire in 2010, but Mr Obama had promised to roll them back upon taking office. | |
| Mr Axelrod ruled out a "blank cheque" bail-out of struggling auto manufacturers, who saw their requests for federal funding turned down by the outgoing Congress during the week. | |
| They would be asked to return to Congress in December with a plan, not just "an expression of need", he said. |