December 10, 2002	Tuesday	Shawwal 5,1423

WASHINGTON, Dec 9: US President George Bush nominated a rail executive, John Snow, as the new treasury secretary on Monday and promised aggressive new measures to reinvigorate the economy before the 2004 re-election campaign.

Bush announced Snow’s nomination at a news briefing at the Eisenhower Executive Office Building, which flanks the White House. Snow has to be confirmed by the Senate before he can take over the treasury.

“Should the United States Senate confirm me, I will look forward to joining your economic team to advance a pro-growth, pro-jobs agenda,” Snow told a news conference after his nomination. Snow’s nomination is expected to be followed in the near future by the appointment of former Goldman, Sachs Chairman Stephen Friedman as chief White House economic adviser. Goldman, Sachs is one of the world’s largest financial companies.

Snow is to replace Treasury Secretary Paul H. O’Neill, who was fired by Bush on Friday along with chief economic adviser Lawrence B. Lindsey. The administration is attempting an urgent midterm correction to boost the flagging economy as the 2004 campaign season begins.

Administration officials said Snow, 63, was picked partly for his ability to communicate Bush’s policy clearly on television and Capitol Hill. The officials also cited Snow’s familiarity with Washington policymakers and his record in business beyond New York, which the White House refers to as “Main Street experience”.

Snow, a solid Republican with ties to moderate Democrats, is known as a glass-smooth salesman who does not need staff members to provide him details during interviews and meetings. He was a tireless champion of deregulation when he was deputy undersecretary at the Transportation Department under President Gerald Ford.