President Obama (center), accompanied by outgoing Treasury Secretary Timothy F. Geithner (left), announces in the East Room of the White House in Washington on Thursday, Jan. 10, 2013, that he will nominate current White House Chief of Staff Jack Lew (right) as the next secretary of the treasury. (AP Photo/Carolyn Kaster)

Photo by: Carolyn Kaster

President Obama (center), accompanied by outgoing Treasury Secretary Timothy F. Geithner (left), announces in the East Room of the White House in Washington on Thursday, Jan. 10, 2013, that he will nominate current White House Chief of Staff Jack Lew (right) as the next secretary of the treasury. (AP Photo/Carolyn Kaster)