Treasury's Paulson Pledges Smooth Transition for New Secretary

By: • Thu, Nov 6 2008, 4:01 PM

U.S. Treasury Secretary Henry Paulson pledged a smooth and effective transition for the new Treasury secretary.

In a statement issued today, Paulson congratulated President-elect Obama for his win, commenting that he would like to see the Obama team "hit the ground running".

President-elect Obama has yet to disclose his choice for Treasury secretary. Names being tossed around include former Fed Chairman Paul Volcker, former U.S. Treasury Secretary Lawrence Summers and New York Fed President Timothy Geithner.

By Steve Stecyk and edited by Nancy Girgis
©CEP News Ltd. 2008