Jack Lew Secretary of Treasury Nomination: White House Chief of Staff is the Likely Candidate

President Barack Obama will likely nominate White House Chief of Staff Jack Lew to replace Timothy F. Geithner as the new Secretary of Treasury, reported Bloomberg

The announcement could come as soon as this week, as the president's staff has been instructed to prepare for the nomination — even though Obama hasn't made a final decision yet. 

If true, Lew's nomination for Treasury would shake things up in the Obama administration as the president would have to also find a new White House chief of staff for his second term in office. The president would also have to fill other cabinet and cabinet-rank positions — including commerce secretary, Environmental Protection Agency administrator and U.S. trade representative and director of the Office of Management and Budget.

According to Bloomberg, if confirmed, Secretary of Treasury Lew "will play a leading role" in working with Congress to raise the government's $16.4 trillion debt ceiling, as Secretary Geithner plans to leave the administration by the end of January (even if the debt ceiling issue has been settled or not).

Read on Bloomberg.

How much do you trust the information in this article?

MORE FROM

What does Sean Spicer’s resignation mean for the rest of Trump’s inner circle?

Many are already wondering if Spicer's departure could portend more shakeups to come.

How the messy New York City subways are hurting vulnerable New Yorkers the most

The New York subway system is a mess — and here's who's suffering the most.

Is Sean Spicer the shortest-serving White House press secretary in history?

Spicer served just six months as press secretary — there are some cabinet members in White House history who have served mere days.

5 stories from this week that aren't about OJ Simpson or Sean Spicer

The White House will be forced to release logs from Mar-a-Lago, and Democrats finally have an agenda.

According to Anthony Scaramucci’s Twitter, he believes in climate change and voted for Barack Obama

He also supports same-sex marriage. And abortion rights.

Trump is reportedly looking into pardoning himself. Here’s why that could backfire.

Can the president really pardon himself?

What does Sean Spicer’s resignation mean for the rest of Trump’s inner circle?

Many are already wondering if Spicer's departure could portend more shakeups to come.

How the messy New York City subways are hurting vulnerable New Yorkers the most

The New York subway system is a mess — and here's who's suffering the most.

Is Sean Spicer the shortest-serving White House press secretary in history?

Spicer served just six months as press secretary — there are some cabinet members in White House history who have served mere days.

5 stories from this week that aren't about OJ Simpson or Sean Spicer

The White House will be forced to release logs from Mar-a-Lago, and Democrats finally have an agenda.

According to Anthony Scaramucci’s Twitter, he believes in climate change and voted for Barack Obama

He also supports same-sex marriage. And abortion rights.

Trump is reportedly looking into pardoning himself. Here’s why that could backfire.

Can the president really pardon himself?