Geithner to head U.S. Treasury dept.

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Source: CCTV.com | 11-25-2008 13:46

Profile: Incoming U.S. Treasury Secretary - Geithner

Incoming U.S. Treasury Secretary Timothy Geithner is seen as a man who is uniquely experienced to effectively connect the dots between Washington and Wall Street.

Treasury Secretary-designate Timothy Geithner, during a new conference by President-elect Barack Obama, announcing members of Obama's economic team, Monday, Nov. 24, 2008, in Chicago. (AP Photo/Pablo Martinez Monsivais)

The 47-year-old head of the Federal Reserve Bank of New York is no stranger to the Treasury Department. That's where he served as under-secretary for international affairs in the Clinton administration.

Before joining the Federal Reserve of New York in October 2003, he served as Director of the Policy Development and Review Department for the International Monetary Fund.

When his name surfaced as a real contender for the Treasury job last Friday, the Dow Jones index rose by more than 6 percent. In his current post, he also serves as a permanent voting member of the Federal Reserve's policy-setting committee.

He has also been praised for his negotiating skills and has a reputation for tackling tough challenges.

Editor:Zhang Pengfei