Treasury Secretary Poised To Resign

Treasury Secretary John Snow has signaled to the White House he is ready to resign once President Bush has picked a successor, administration officials and people close to Snow said Thursday.

They said Snow has made clear he eventually intends to return to the private sector. They spoke on condition of anonymity because Snow is not ready to discuss his plans publicly.

It's unclear when Snow will offer his resignation, these people said.

Treasury Department spokesman Tony Fratto declined to comment. "I don't speculate on personnel matters," he said.

Snow, 66, took over Treasury in February 2003.

He replaced Paul O'Neill, whose blunt talking style came to irk the White House as well as some Republican and Democratic lawmakers in Congress. Unlike O'Neill, Snow hasn't veered from the Bush economic line. Still, the White House is said to want a more effective salesman for the president's economic policies.

People inside the administration said a replacement for Snow has not been settled upon.

Possible contenders who have been mentioned for the Treasury post include Stephen Friedman, who had served as director for Bush's National Economic Council.

Another possibility: Don Evans, Bush's former commerce secretary and a close personal friend of the president.

Yet another person being mentioned is David Mulford, who was appointed by Bush to be the U.S. ambassador to India. He served as undersecretary for international affairs at the Treasury Department during the administration of Bush's father.