From The Free Forex Encyclopedia
Timothy Franz Geithner (pronounced GUYT-NER) is the current Secretary of the United States Department of the Treasury under the Obama administration.
Born in in New York in 1961, Geithner has studied Japanese and Chinese and has lived in East Africa, India, Thailand, China, and Japan. In 1983 he finished a bachelor’s degree in government and Asian studies in Dartmouth College, then completed a master’s degree in International Economics and East Asian Studies from Johns Hopkins School of Advanced International Studies in 1985.
Geithner joined the Department of Treasury in 1988 where he worked for five Secretaries of the Treasury under three administrations. He served as director of the Policy Development and Review Department at the International Monetary Fund from 2001 until 2003, before he became the Chief Executive Officer and ninth President of the Federal Reserve Bank of New York on November 17, 2003.
As President of the New York Fed, he served as the vice chairman and a permanent member of the Federal Open Market Committee (FOMC), where he was criticized for his lack of experience in regulatory issues. He was also in charge of overseeing and extending credit to banks in New Jersey, New York, and a few in Conneticut.
Today, as the 75th Secretary of Treasury, Geithner formulates domestic and international financial, economic, and tax policies, and even broad fiscal policies that have general significance for the economy. He also manages public debt, and has a hand in manufacturing coins and currency.