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Fed exec Geithner tapped to head Treasury - Adviser says Hillary Clinton will accept offer to lead State.

POLITICO National political news and more

President-elect Barack Obama is expected to tap New York Federal Reserve President Timothy Geithner as Treasury secretary on Monday, sources say.

Another key player, Sen. Hillary Rodham Clinton, D-N.Y., plans to accept Obama's expected offer to become secretary of state and resign from the Senate, a top Clinton adviser said Friday. An announcement is expected shortly after Thanksgiving, officials said.

Democratic circles had been buzzing for at least a week that the other front-runner for the Treasury post, Lawrence Summers, who had headed Treasury for a time under President Bill Clinton, had been crossed off the list.

Obama is also expected to announce other members of his economic team, sources say. A source close to the transition said that the Obama team knows it has to get its top economic advisers in place quickly to reassure Wall Street   Read Full Article...