Senior Obama adviser confirms Geithner will be treasury secretary

President-elect Barack Obama will name Timothy Geithner, the New York Federal Reserve president, as his treasury secretary on Monday, Obama senior adviser David Axelrod confirmed Sunday on Fox News. The move followed Obama's declaration on Saturday that his administration planned to create 2.5 million jobs over the next two years. Geithner will team with Lawrence Summers, a treasury secretary under former President Bill Clinton and former Harvard University president, who will take over the National Economic Council.