Media and politicians are hailing President-elect Barack Obama's top economic appointments, which will be officially announced later Monday.
Obama was expected to name Timothy Geithner, president of the Federal Reserve Bank of New York, as treasury secretary, and former Treasury Secretary Lawrence Summers as head of the National Economic Council at a press conference beginning at 12:00 p.m. eastern time (1600 GMT).
Senator Richard Shelby, a Republican from Alabama, told ABC that Geithner's expected nomination is "overall a good appointment."
"I've worked with Tim Geithner. He's young. He's innovative. I believe he will be up to the challenge. He knows a lot about the economy and he knows a lot about problems," Shelby said. "He has been involved in the bailout. ... He is a breath of fresh air, so to speak. I think he will do well."
The Wall Street Journal editorial page called Geithner "probably the best choice," as "he guarantees the smoothest transition from the current Treasury team."
"This continuity is especially important given that the credit markets have taken a major step backward since Obama's election."
The Politico said Obama's economic team is getting "rave reviews on Wall Street and will likely get an easy ride through the Senate."
The Financial Times said both Geithner and Summer "bring great experience to their likely new roles," and "both are renowned in economic and financial circles throughout the world."
The Washington Post, Washington Times and USA Today have all offered positive portrayals of the expected nominees.
Source:Xinhua
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