In picking Timothy Geithner to be his Treasury Secretary, President Barack Obama gets someone who has already been right in the middle of the current economic turmoil. As president and CEO of the New York Federal Reserve, Geithner, 47, has worked closely with current Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke in fashioning the response to the financial crisis on Wall Street. Geithner has international economic experience as well, including positions at the Treasury Department and the International Monetary Fund. In making the announcement on Nov. 24, 2008, Mr. Obama said Geithner is "uniquely suited" for the job.
Geithner first joined the Treasury Department in 1988 and served in various roles for three presidents through 2001. During the Clinton administration, he was the under secretary of the Treasury for international affairs from 1999 to 2001. Before joining the New York Federal Reserve in 2003, he also worked at the IMF and the Council of Foreign Relations. He has a bachelor's degree from Dartmouth College and a master's degree from the Johns Hopkins School of Advanced International Studies.
Geithner was confirmed by the Senate on January 26, 2009. His confirmation was delayed by admissions that he recently had to pay thousands in back taxes.