Responding to reports that he is considering stepping down later this year, the US Treasury Secretary Timothy Geithner has said he is staying in his job “for the foreseeable future.”
People who are familiar with Geithner’s thinking have said he will not make a decision until the difficult and politically charged negotiations over the US debt ceiling are completed.
Geithner has spent most of his career in public service and on Thursday, at an event with former US President Bill Clinton, he seemed keen to continue for now.
Responding to a question the Treasury Secretary said: “I live for this work. It is the only thing I’ve ever done I believe in it. We have a lot of challenges as a country and I’m going to be doing it for the foreseeable future.”
Replacing Geithner would be a tough choice for President Obama.
A successor could face a gruelling and long quest to win the necessary confirmation from the US Senate, followed by the challenge of trying to spur a slow-growing US economy.
Potential replacements include General Electric chief Jeff Immelt, who already heads a council that advises the White House, New York Mayor Michael Bloomberg and JPMorgan Chase Chairman and CEO Jamie Dimon.