Richardson at Commerce, Summers as Economic Adviser | NBC New York

Richardson at Commerce, Summers as Economic Adviser

    processing...

    NEWSLETTERS

    Getty Images
    President-elect Barack Obama will name Bill Richardson as his commerce secretary after Thanksgiving, adding a prominent Hispanic and one-time Democratic rival to his expanding Cabinet.

    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.

    Richardson ran for president during the Democratic primaries and comes equipped with one of the best resumes in Democratic politics, albeit one weighted down by a reputation for being a headline-seeker and independent operator.

    In the Clinton administration, Richardson was Energy secretary and U.S. ambassador to the United Nations.