Federal Reserve Bank President Tim Geithner will be named Secretary of the Treasury by Barack Obama on Monday.
Following the reports, stocks on Wall Street skyrocketed adding 500 points on the day.
Geithner has a large resume and is well respected in the financial community. Since 2003 he has served as President of the Federal Reserve Bank in New York City. In 1999 he was appointed to Undersecretary of the Treasury for International Affairs. He served on the Council of Foreign Relations and was Director of Policy Development for the International Monetary Fund.
Other reports says that General James Jones will be appointed as National Security Advisor and Bill Richardson is under consideration for Commerce Secretary.