New York Fed launches search for new president

\WASHINGTON (AP) -- Timothy Geithner, President-elect Barack Obama's pick to be Treasury secretary, will soon step down from his current post as president of the Federal Reserve Bank of New York.

The New York Fed says it has created a search committee to select Geithner's successor.

The New York Fed says Geithner will continue to serve as president "for the next several weeks."

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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