Jack Lew to be next Treasury Secretary, says source

WASHINGTON - White House chief of staff Jack Lew is President Barack Obama's expected pick to lead the Treasury Department, with an announcement possible before the end of the week.

White House officials would not confirm that a final decision has been made. But aides did not dispute that Lew is emerging as the consensus choice.

Sources familiar with the process say Obama is choosing Lew because of his wide variety of government and private sector experience.

Lew previously led the Office of Management and Budget and oversaw international economic issues at the State Department.

He has played a key role in numerous financial negotiations between the White House and Capitol Hill.

The sources spoke on the condition of anonymity in order to discuss the expected nomination ahead of the president.

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