Here comes Timothy

The Wall Street Journal has a banner reporting that Tim Geithner will be Barack Obama’s Treasury Secretary. And CNN says, "Wall Street rallies on reports that Obama will tap NY Fed President Timothy Geithner as Treasury Secretary. Dow jumps 260 points." I’ll update as the news comes in. Jonathan Weisman: New York Federal Reserve Bank ...

The Wall Street Journal has a banner reporting that Tim Geithner will be Barack Obama's Treasury Secretary. And CNN says, "Wall Street rallies on reports that Obama will tap NY Fed President Timothy Geithner as Treasury Secretary. Dow jumps 260 points."

The Wall Street Journal has a banner reporting that Tim Geithner will be Barack Obama’s Treasury Secretary. And CNN says, "Wall Street rallies on reports that Obama will tap NY Fed President Timothy Geithner as Treasury Secretary. Dow jumps 260 points."

I’ll update as the news comes in.

Jonathan Weisman:

New York Federal Reserve Bank President Timothy J. Geithner is to be nominated as President-elect Barack Obama’s Treasury secretary, according to a person close to the transition process.

The Federal Bureau of Investigation began calling Geithner confidants this week, starting a vetting process of getting the economist and Fed veteran in place almost as soon as Mr. Obama is inaugurated the 44th president.

Mr. Obama plans to introduce his entire economic team early next week, hoping to sooth the roiling financial markets and answer rising pressure on the president-elect to become more involved.

Here’s more from the WSJ:

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