To help pull the US out of an economic nosedive, President-elect Barack Obama is set to name Timothy Geithner at the Treasury, according to media reports.
As head of the New York Federal Reserve, Geithner has worked closely with Henry Paulson, the outgoing Treasury Secretary. And, at the end of another volatile week on Wall Street, US stocks soared on the news, although an official announcement is not expected until Monday.
The United States top diplomatic post looks to be heading Hillary Clinton’s way. According to the New York Times, it is a done deal that she will become her one-time Democratic rival’s Secretary of State.
Clinton already has a global profile both as a political leader in her own right and as a former American first lady.
US television also said New Mexico Governor Bill Richardson, who served under Bill Clinton, could become Commerce Secretary. His elevation to the cabinet would give the Obama administration its first high-profile Hispanic member, as its main link to the business community.