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Democratic sources report two major decisions by President-elect Obama: New Mexico Gov. Bill Richardson (D) will be named secretary of Commerce, subject to final vetting. And Lawrence Summers, Treasury secretary in the Clinton administration, will be White House economic adviser.
Summers had been considered for Treasury secretary, and Richardson wanted to be secretary of State. The latest decisions reflect Obama's apparent desire to keep them in his policy fold, even if in less prestigious — and probably less influential — roles.
Summers's appointment is scheduled to be announced Monday in Chicago, along with Timothy Geithner, the president of the Federal Reserve Bank of New York, for Treasury secretary. - Politico