President-elect Barack Obama has selected Timothy Geithner as Treasury Secretary - according to NBC news.

Wall Street, eager to hear who will help lead the US through its worst financial crisis since the Great Depression, immediately jumped higher on the reports.

The New York Fed President has played in key role during the crisis, which saw Bear Stearns sold to JP Morgan Chase, Lehman Brothers slide into bankruptcy and the government step in to shore-up American International Group.

--Reuters

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