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| Obama 'to name Jack Lew US treasury secretary' | Obama 'to name Jack Lew US treasury secretary' |
| (about 5 hours later) | |
| US President Barack Obama is expected to name White House Chief of Staff Jack Lew to lead the US treasury department, US media report. | US President Barack Obama is expected to name White House Chief of Staff Jack Lew to lead the US treasury department, US media report. |
| He would replace outgoing Treasury Secretary Timothy Geithner. | He would replace outgoing Treasury Secretary Timothy Geithner. |
| Mr Lew, 57, has been Mr Obama's budget director, has supervised international economic issues at the state department, and worked on Wall Street. | Mr Lew, 57, has been Mr Obama's budget director, has supervised international economic issues at the state department, and worked on Wall Street. |
| He is the fourth senior official to be nominated in recent weeks as Mr Obama fills his second term administration. | He is the fourth senior official to be nominated in recent weeks as Mr Obama fills his second term administration. |
| If confirmed by the Senate, Mr Lew will take up his post amid tense negotiations between the White House and congressional Republicans. | If confirmed by the Senate, Mr Lew will take up his post amid tense negotiations between the White House and congressional Republicans. |
| Debates are brewing over the government's borrowing authority, known as the debt ceiling, as well as government spending cuts, and other fiscal matters. | Debates are brewing over the government's borrowing authority, known as the debt ceiling, as well as government spending cuts, and other fiscal matters. |
| Also on Thursday, Secretary of Labor Hilda Solis announced she would resign. The news comes amid a major reshuffle of Mr Obama's cabinet. | |
| On Monday, Mr Obama nominated former Republican Senator Chuck Hagel to replace Leon Panetta as Secretary of Defense and picked White House counter-terrorism adviser John Brennan to be the next director of the CIA. | |
| Last month, he announced Massachusetts Senator John Kerry would be the next candidate for secretary of state, replacing Hillary Clinton. | Last month, he announced Massachusetts Senator John Kerry would be the next candidate for secretary of state, replacing Hillary Clinton. |