Timothy Geithner will remain Secretary of the Treasury

James Politi of the Financial Times reports that:

Tim Geithner has decided to remain as Treasury secretary, avoiding a potentially unsettling transition at the tiller of US economic policy amid renewed strains in financial markets and concerns about the trajectory of the recovery.

Politi continues:

“The president asked secretary Geithner to stay on at Treasury and welcomes his decision,” said Jay Carney, White House press secretary. He is now expected to remain into the autumn of 2012, according to one Treasury official.

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