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Reports: Geithner Is Considering Leaving Treasury Secretary Post

Treasury Secretary Timothy Geithner.
Treasury Secretary Timothy Geithner.

There are multiple reports at this hour that Treasury Secretary Timothy Geithner is considering leaving his position once Congress comes to an agreement on increasing the debt the ceiling.

The Associated Press, Reuters and Bloomberg have all reported the story. Bloomberg, which was the first to report it, hinges its story on three unnamed sources "familiar with the matter," and the AP relies on one unnamed source.

The AP reports:

The source emphasized that no decision had been made but said Geithner recognized he may have a window to depart once Congress and the administration reach a deal on raising the nation's debt limit. That needs to happen by Aug. 2 to avoid unprecedented default on U.S. financial obligations.

Geithner would be the latest in a series of economic advisers to President Barack Obama who've departed his administration more than halfway through his first term.

ABC News confirmed the story, but added that "it's too early and there are far too many caveats to say" Geithner will step down.

According to Dow Jones, the chairman of the White House Council on Economic Advisers Austan Goolsbee said he and Geithner are good friends and he had not heard anything about his plans to leave the administration:

Goolsbee, speaking on CNBC, said it was a "bit of a surprise" for him to hear of a report suggesting Geithner was considering stepping down. He said Geithner's "overwhelming focus" is on trying to get a deal together to raise the nation's debt ceiling.

Update at 7:23 p.m. ET. Geithner Speaks:

The AP reports that at a meeting of the Clinton Global initiative in Chicago, Geithner said "he's staying put at the Treasury Department for the 'foreseeable future.'"

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