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Obama to announce Lew nomination as Treasury chief Thursday

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WASHINGTON, Jan 10 (Reuters) - U.S. President Barack Obama plans to announce his nomination of White House chief of staff and budget expert Jack Lew as his next Treasury secretary on Thursday at an event at 1:30 p.m. ET (1330 GMT), a White House official said.

Lew, 57, will take the lead on difficult negotiations with Congress on how to cut the nation's looming debt and rein in spending - a central challenge for Obama's second term.

Lew is expected to be confirmed by the Senate. He will take over from Timothy Geithner, who is slated to attend Thursday's announcement, the White House official said.

http://www.globalpost.com/dispatch/news/thomson-reuters/130110/obama-announce-lew-nomination-treasury-chief-thursday