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Reports: Obama to nominate Jack Lew for Treasury Secretary

President Obama will reportedly nominate his current Chief of Staff Jack Lew to replace Timothy Geithner as Treasury Secretary, according to reports from Bloomberg Businessweek and the Associated Press.

From Hans Nichols at Businessweek, who cites "a person familiar with the process":

Lew, 57, who also has served as director of the Office of Management and Budget, has been offered the Treasury post by Obama, according to the person, who asked for anonymity to discuss personnel matters.

Geithner, 51, the only remaining member of Obama’s original economic team, has told White House officials he doesn’t’ want to serve in a second term and intends to leave the job by the end of the month.

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