- published: 22 Mar 2013
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Timothy Franz Geithner ( /ˈɡaɪtnər/; born August 18, 1961) is an American economist, central banker, and civil servant. He is the 75th and current United States Secretary of the Treasury, serving under President Barack Obama. He was previously the president of the Federal Reserve Bank of New York.
Geithner's position includes a large role in directing the Federal Government's spending on the late-2000s financial crisis, including allocation of $350 billion of funds from the Troubled Asset Relief Program enacted during the previous administration. At the end of his first year in office, he continued to deal with multiple high visibility issues, including administration efforts to restructure the regulation of the nation's financial system, attempts to spur recovery of both the mortgage market and the automobile industry, demands for protectionism, President Obama's tax changes, and negotiations with foreign governments on approaches to worldwide financial issues.
Geithner was born in Brooklyn, New York City, the son of Deborah (née Moore) and Peter Franz Geithner. His father was the director of the Asia program at the Ford Foundation in New York in the 1990s. Geithner's father is of German descent, and Geithner's paternal grandfather, Paul Herman Geithner (1902–1972), emigrated with his parents from the Thuringian town of Zeulenroda to Philadelphia in 1908. Geithner's mother, a Mayflower descendant, is from a New England family. Geithner's maternal grandfather, Charles Frederick Moore, Jr., was an adviser to President Dwight D. Eisenhower and served as Vice President of Public Relations from 1952 to 1964 for Ford Motor Company.
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