Treasury Secretary

Timothy Geithner is considering to step down from his Treasury Secretary post later this year, however he won’t make any final decision until contentious negotiations over the U.S. debt ceiling are completed, report the sources with the knowledge of the matter.

After some speculations in the media Geithner answered the direct question about his resignation and made and evasive comment.

US Treasury Secretary Timothy Geithner said on Sunday that the double dip recession is an unlikely prospect for the United States while it is necessary to let tax cuts for wealthy Americans expire to improve the situation around budget deficits.

Geithner said only 2 to 3 percent of Americans -- those making $250,000 or more a year -- will be affected when tax cuts enacted under former President George W. Bush end on schedule this year.

Meantime, Republicans want to extend the tax cuts and Democrats are divided but Geithner said reductions for top earners should end.

Several U.S. policy makers consider JPMorgan Chase & Co Chief Executive Jamie Dimon as a potential successor to U.S. Treasury Secretary Timothy Geithner, the New York Post said, citing sources.

 Dimon "would love to serve his country," the paper quoted people familiar with his thinking as saying.

With only weeks to go before he leaves office, Treasury Secretary Henry Paulson says he has no regrets about his handling of the financial crisis that helped push the nation into recession.
Speaking Thursday night to a sold-out crowd of several hundred at the 92nd Street Y on Manhattan's Upper East Side, Paulson defended his actions and inactions, and pointed to what he views as public misperceptions.