Timothy, Summers in Obama team

This news updete by www.zeenews.com




Chicago: US President-elect Barack Obama named Timothy Geithner as Treasury Secretary and Lawrence Summers as director of the National Economic Council on Monday.

Geithner, the New York Federal Reserve Bank president, and former Treasury Secretary Summers will be at the center of the Obama administration's efforts to fight the worst financial crisis to hit the United States since the Great Depression.

Obama, who takes over for President George W. Bush on January 20, also named University of California at Berkeley economist Christina Romer as the head of the White House Council of Economic Advisers.

"Vice President-elect (Joe) Biden and I have assembled an economic team with the vision and expertise to stabilize our economy, create jobs, and get America back on track," Obama said in a statement.

"Even as we face great economic challenges, we know that great opportunity is at hand -- if we act swiftly and boldly. That's the mission our economic team will take on."

Obama and Biden also named Melody Barnes to serve as director of the Domestic Policy Council and Heather Higginbottom to serve as the council's deputy director.

News Via