Obama said to reveal his economic team

US President-elect Barack Obama is expected to name Timothy Geithner, current president of the New York Federal Reserve Bank, as his treasury secretary and is set to announce the remainder of his economic team early next week. ┬á Obama is delaying other cabinet announcements until after Thanksgiving, but BBC correspondents said the President-elect had decided his economic appointments could not wait, as the new economic team will be responsible for revitalizing the faltering US economy. ┬á Obama has expressed a need for the economy to create 2.5 million jobs by 2011, and in a weekly address on Saturday he said he wanted to rebuild AmericaÔÇÖs infrastructure while also developing sources of renewable energy.┬á Timothy Geithner is the ÔÇ£right manÔÇØ for the key post, according to senior Obama strategist David Axelrod, who told US TV networks that Geithner was fit to lead the Treasury ÔÇ£by temperament and experience.ÔÇØ┬á ÔÇ£Tim Geithner is someone who had experience in dealing with economic crises as the assistant secretary of treasury for international affairs in the ÔÇÿ90s,ÔÇØ he said. ÔÇ£HeÔÇÖs intimately involved with the situation now in his role as president of New York Federal Reserve.ÔÇØ ┬á Axelrod said the incoming administration was considering all aspects of the economic crisis in its efforts to pull the US out of recession. ÔÇ£I think weÔÇÖre going to have to do a number of things to get the economy moving again,ÔÇØ he said. ┬á The reported decision has apparently reassured investors, because despite another unstable week of trading and fears over the scale of the economic contraction, US shares have risen drastically since the report has been made. ┬á Geithner has been a key player in tackling the credit crisis and addressing ways to boost the economy, and has worked closely with current Treasury Secretary Henry Paulson.