Jack Lew, President Obama's likely pick for Treasury secretary, will face tricky economic topics in his new role. If confirmed, Lew will be an important player in the president's plans for deficit reduction.
President Barack Obama will nominate White House Chief of Staff Jack Lew to be his next Treasury secretary, choosing a budget expert and close confidant to spearhead tough fiscal fights with Congress over the U.S. deficit.
If confirmed by the Senate, Lew would replace Timothy Geithner, the longest-serving member of Obama's original economic team, who has said he would step down after one term.
A source familiar with the matter said Lew, who had been widely expected to be tapped for the role, will be nominated on Thursday.
The announcement would round out a slew of cabinet choices Obama has made in recent weeks that will help set the agenda for his second term.
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