Though Geithner is said to have been considering the move for a while, it would come before the February debate over raising the debt ceiling, which is expected to be contentious.
Treasury Secretary Timothy Geithner will step down at the end of the month, even if lawmakers haven’t yet reached an agreement to extend the debt ceiling.
Citing two people familiar with the situation, Bloomberg reported that Geithner, who has reportedly considering leaving the post for at least a year, will definitely leave at the end of January.
If it happens, the departure would come before the February debate over raising the debt ceiling, which is expected to be contentious.
But the news doesn’t come as a complete surprise. Last year, Geithner, 51, told Bloomberg that he wouldn’t stay on if Obama was reelected.
Current White House Chief of Staff Jack Lew is reportedly the frontrunner to named Geithner’s successor, according to Bloomberg. But President Obama is also reportedly considering American Express CEO Kenneth Chenault for the post.