PERSON: Timothy Geithner

U.S. Treasury Department

Former Secretary

Timothy F. Geithner served as the 75th Secretary of the Treasury from January 26, 2009 to January 25, 2013. He took office in the midst of the worst financial crisis since the Great Depression and helped design and lead the successful strategy to avert global economic collapse and repair the damage to the U.S. economy and the financial system.<br> <br> Working with the Federal Reserve and a close-knit team of advisors, and building on the work of Secretary Henry Paulson and his team, Secretary Geithner developed and executed a series of programs under President Barack Obama that helped recapitalize and restructure the financial system and restore economic growth. Treasury was able to recover the investments it made under the emergency financial programs at a substantial profit to taxpayers.<br> <br> Alongside those efforts, Secretary Geithner worked to put in place a mix of short-term tax cuts and public investments to support the economy during the crisis, followed by longer term spending and tax reforms to help put the fiscal position of the United States on a more sustainable foundation.<br> <br> Secretary Geithner was the main architect of President Obama’s push to restructure and reform the financial system, which resulted in the landmark Wall Street Reform and Consumer Protection Act. The law put in place important constraints on risk in the financial system and established new protections for investors and consumers, including the establishment of the Consumer Financial Protection Bureau. <br> <br> Secretary Geithner also played a leadership role on a broad set of international economic challenges, including helping to contain the European financial crisis, moving China to a more flexible exchange rate system, and forging agreements among developed and emerging economies to reform and strengthen the international financial system.<br> <br> Prior to becoming Secretary, Geithner was President and CEO of the Federal Reserve Bank of New York from 2003 to 2009. From 2001-2003, he was director of the Policy Development and Review Department at the International Monetary Fund. Geithner joined the civil service of the Treasury Department in 1988 as an economist in the Office of International Trade and subsequently served in variety of positions, including Under Secretary for International Affairs. He was the first former member of Treasury’s career civil service to become Secretary.<br> <br> — treasury.gov