Obama Team Eyeing NY Fed Reserve’s Geithner for Treasury Post

New York Federal Reserve Bank President Timothy J. Geithner will be nominated to become the next Treasury secretary, according to the Wall Street Journal. The newspaper cited a source 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 (President-elect) Obama is inaugurated the 44th president,” the story said. Obama is expected to introduce his economic team early next week.

Geithner would succeed Henry Paulson, who has held the post since July 2006.