November 21, 2008
Obama's Economic, Foreign Policy Teams
Taking Shape
Washington
US President-elect Barack Obama has already settled on much of his
economic and foreign policy team, including Hillary Clinton for
secretary of state and New York Federal Reserve Chairman Timothy
Geithner to head the Treasury, US media reported Friday.
Obama will unveil his entire economic team, including Geithner, on
Monday, broadcaster NBC reported, offering some clarity on who will
manage the world's largest economy in a time of global economic
crisis.
US markets surged more than 6 percent late Friday on news of Obama's
choice. Geithner, 47, has worked closely since September with
current Treasury Secretary Henry Paulson and Federal Reserve
Chairman Ben Bernanke as the government has battled to avert a
collapse of the US financial industry.
Geithner has headed the Federal Reserve Bank of New York since 2003
and held various positions in the Treasury since 1988. He also
directed policy at the International Monetary Fund shortly before
taking the New York Fed job.
Meanwhile, Hillary Clinton has decided to accept the job of
secretary of state in Obama's administration, the New York Times
reported Friday on its website.
The president-elect's transition team said they had no comment on
the cabinet speculation.
Clinton, Obama's one-time rival for the Democratic presidential
nomination, had for weeks been rumoured to be the choice for top US
diplomat and has been going through an extensive vetting process by
the transition team.
That vetting has also included the financial dealings of her husband
and former president Bill Clinton, who has been running his own
charitable foundation since leaving the White House in 2001.
Clinton reportedly accepted the job after holding additional
discussions with Obama about his foreign policy priorities and her
role in the administration, the New York Times reported, citing two
Clinton confidants.
Obama has also settled on James L Jones as his national security
advisor, the top foreign policy post in the White House, CNN
reported Friday, citing sources in Obama's transition team.
Jones, a decorated retired Marine Corps general who commanded US and
NATO forces in Europe earlier this decade, is still undergoing a
vetting process before being officially offered the position.
Jones was suggested by some as a possible vice-presidential pick as
well as for roles in the State Department or energy. He served in
the Vietnam War and was awarded several military medals.
NBC also reported that New Mexico Governor Bill Richardson will
likely take the job of secretary of commerce. Richardson, who ran
for the 2008 Democratic presidential nomination but later endorsed
Obama, has been a congressman as well as United Nations ambassador
and energy secretary under former president Clinton.
Faced with an economy likely in recession and the first wartime
transition of power since Vietnam, Obama has been forced to put his
White House and cabinet team in place much quicker than past
presidents. He will take over from President George W. Bush on Jan
20.
Obama unveiled his choice of Illinois congressman Rahm Emanuel as
White House chief of staff just days after the Nov 4 election. No
cabinet positions have been officially announced, but many names
have been leaked to US media organizations over the last few weeks.
As part of his economic unveiling Monday, Obama will also likely
name the top three economic advisors to the president, a group known
as the White House Council of Economic Advisors.
Others already reported as likely by US media include: Arizona
Governor Janet Napolitano to head the Homeland Security Department;
former Senate majority leader Tom Daschle for health secretary; and
Eric Cantor as the first African American attorney general.
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