WASHINGTON, Nov. 24 (UPI) -- Timothy Geithner, president of the Federal Reserve Bank of New York, brings his experience in formulating monetary policy to the U.S. treasury secretary post.
Geithner, 47, became the New York Fed's ninth president in 2003, and has served as the vice chairman and a permanent member of the Federal Open Market Committee, the group responsible for formulating the nation's monetary policy.
He first joined the Treasury Department in 1988, working under three U.S. administrations and for five treasury secretaries in numerous positions. He was undersecretary of the treasury for international affairs from 1999 to 2001 under Secretaries Robert Rubin and Lawrence Summers, who was named Monday as U.S. President-elect Barack Obama's chief economic adviser.
Geithner was as an official of the International Monetary Fund from 2001 to 2003. Before joining the government, he worked for Kissinger Associates Inc.
Geithner graduated from Dartmouth College with a bachelor's degree in government and Asian studies in 1983 and from the Johns Hopkins School of Advanced International Studies with a master's in International Economics and East Asian Studies in 1985.