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Obama Expected To Pick Budget Expert Lew For Treasury Job

Reports say U.S. President Barack Obama will nominate White House Chief of Staff Jack Lew to be his next treasury secretary.

The reports, quoting officials familiar with the process, said Lew's nomination is expected to be announced by Obama on January 10.

Lew would replace current Treasury Secretary Timothy Geithner, who served throughout Obama's first term.

Lew, 57, has twice headed the White House's Office of Management and Budget.

Lew's budget background could help shape the administration's strategy in negotiations with congressional Republicans over the federal debt ceiling.

Obama has already nominated new leadership for the State Department, the Pentagon, the Central Intelligence Agency, and the Labor Department.

All nominees must be approved by the Senate.

Lew would be expected to easily win confirmation in the Senate, given his background and professional record.

Based on reporting by AP and