Timothy Geithner Will Remain in His Position

Treasury Secretary Timothy Geithner told President Barack Obama that he will remain in his position.

Previously, has been speculation that Geithner would take off his post. Geithner today is the only initial of Obama's economic team. The statement was stated in a written statement released by the U.S. Treasury Department.

At the end of June, Geithner mentioned going to resign after the swelling of U.S. debt limit. Geithner said he would move to New York, and intends to accompany his son that will pass high school.

But, apparently lobbying Obama to hold Geithner went successfully. White House Chief William Daley reportedly lobbying against Geithner to survive, and Geithner was calling himself comfortable with the relationship with Obama over this.