Treasury Secretary Geithner Considering Exit at the End of the Year

United States Treasury Secretary Timothy Geithner is considering an exit from his post later this year, people familiar with his thinking said on Thursday.

Geithner is widely reported as being exasperated by grueling debt negotiations. The country faces a looming August 2 deadline to lift the debt ceiling before it faces a potentially catastrophic default event.

Politicians and Treasury have made little visible progress in securing a consensus. Sources familiar with Geithner's thinking tell Reuters that he may leave the post at the end of this year.

Geithner, for his part, said he would remain in his Treasury post "for the foreseeable future."

"I've only worked in public service. I live for this work. It's the only thing I've ever done, I believe in it," Geithner noted. "We have a lot of challenges as a country, and I'm going to be doing it for the foreseeable future."

Reuters notes that "Geithner is the last senior member of President Barack Obama's original economic team. He has faced intense criticism, including at times calls for his resignation, but has prevailed to win a reputation as a steady hand amid turbulent times."

As for his successor, pundits have already compiled a list of potential candidates. JPMorgan Chase (NYSE: JPM) CEO Jaime Dimon and New York City Mayor Michael Bloomberg, among others, have been pointed out as reasonable possibilities.