Business

Geithner reportedly leaving in Jan.

Timothy Geithner may quit the top Treasury job soon.

Getty Images/File 2012

Timothy Geithner may quit the top Treasury job soon.

WASHINGTON — Treasury Secretary Timothy F. Geithner plans to leave the administration at the end of January, even if President Obama and congressional Republicans have not reached an agreement to raise the debt ceiling, two people familiar with the matter said.

After giving in to Obama’s previous entreaties to stay as long as needed, Geithner has indicated to White House officials and Wall Street executives that he is unlikely to change his departure plans this time, increasing pressure on the president to name a successor, said the people.

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They requested anonymity to talk about the private discussions.

Geithner, 51, is the only remaining member of Obama’s original economic team and was a key figure in the taxpayer-funded bailouts during the 2008 financial crisis.

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He has also had a principal role in negotiations with Congress on the budget deal and in past deliberations over the debt ceiling.

The White House chief of staff, Jack Lew, remains the leading contender for the Treasury job, the people said.

But because Lew’s experience in financial markets is thin, they said, Obama may seek to name a Wall Street executive as the deputy treasury secretary.

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White House and Treasury spokeswomen declined to comment.

Washington Post

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