Fortune believes that former Treasury Secretary Lawrence (Larry) Summers is in the lead to get the job. Summers, who served in the Clinton Administration, wouldn’t be a surprise pick. He along with other economic experts, ex-Treasury Secretary Robert Rubin and former chairman of the Federal Reserve Paul Volcker, have advised Obama during the campaign, especially as the economic crisis unfolded. Volcker is said to be highly interested in the Treasury job, but Summers, with support from Rubin, has the inside track.
I guess Obama does keep Bob Rubin on his speed dial. I suspect the markets will like this, too.