Jack Lew Nominated as Secretary of Treasury

Gets the formal nod

President Obama today names his current chief of staff, Jack Lew, to serve as the nation's next treasury secretary, replacing Timothy Geithner, the White House announced.

"Jack Lew will bring an impressive record of service in both the public and private sectors for over three decades, and economic expertise, to this important role, and his deep knowledge of domestic and international economic issues will enable him to take on the challenges facing our economy at home and abroad on day one," a White House official said. "Throughout his career, Jack Lew has proven a successful and effective advocate for middle-class families who can build bipartisan consensus to implement proven economic policies."