Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Jack Lew's Deputy May Be the Most Important Person at Treasury

By Albert R. Hunt

When White House Chief of Staff Jack Lew is named Treasury secretary tomorrow, high-powered financial types say the selection of his deputy secretary will be crucial.

President Barack Obama has been advised that it's important to name someone with expertise in global financial markets, an area where Lew has limited experience. The most oft-mentioned possibility  is David Lipton, currently the first deputy managing director of the International Monetary Fund.

Earlier in his career, Lipton worked at the White House and at Treasury and is knowledgeable about global economic issues.

However, with Obama facing criticism for a lack of high-level female appointments, there is pressure to promote Lael Brainard, the current undersecretary of Treasury for international affairs, to the no. 2 slot. Her prime expertise is trade.

There is concern that the deteriorating European economic situation will mean that the Treasury will be dealing with global crises, along with domestic fiscal and debt issues.

(Albert R. Hunt is a Bloomberg View columnist. Follow him on Twitter.)

Read more breaking commentary from Bloomberg View columnists and editors at the Ticker.

-0- Jan/09/2013 16:54 GMT

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.