WASHINGTON — Timothy Geithner has told President Barack Obama that he will remain on the job as Treasury secretary.
The Treasury Department released a statement Sunday saying Geithner had informed the president of his decision to remain in the administration. Geithner is the only remaining top official on Obama's original economics team.
In late June, people close to Geithner said he was considering leaving after the debt limit was raised in August because he was tired of commuting to New York, where his son will be finishing up his last year in high school.
He told Obama of his resolve to remain even as demands for his ouster rise among members of Congress, including House Speaker John Boehner, Sens. Jim DeMint and Rand Paul, and Rep. Michele Bachmann. in the wake of Standard and Poor’s downgrading of the U.S. credit rating from AAA to AA+.
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