Jack Lew Likely Choice to Replace Geithner at Treasury

Lew is current White House chief of staff

President Barack Obama could announce this week his choice to nominate Jack Lew to be the next Treasury Secretary, Bloomberg's Hans Nichols is reporting.

Lew, the current White House Chief of Staff, would replace Timothy Geithner in the role.

Lew's appointment would also mean that Obama would need to find a new chief of staff to replace Lew in his second-term Cabinet. Nichols says that two possibilities for that role are Denis McDonough, a deputy national security adviser, and Ron Klain, who was Vice President Joe Biden's chief of staff.