Obama to nominate Lew as Treasury secretary – source

United States President Barack Obama. Picture: AFP
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WASHINGTON - US President Barack Obama will nominate White House chief of staff Jack Lew as his next Treasury secretary on Thursday.

Lew will be replacing Timothy Geithner, according to a source familiar with the matter.

Lew had been widely expected to be tapped for the role.

He has served as budget director for Obama and for former President Bill Clinton.