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The Honolulu Advertiser
Posted on: Saturday, May 27, 2006

Treasury chief may be ready to resign

By Jeannine Aversa
Associated Press

John Snow

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WASHINGTON Treasury Secretary John Snow, a loyal lieutenant on the White House economic team, has signaled he is ready to resign once President Bush picks a successor, administration officials and people close to Snow say.

Snow has made clear to the White House that he intends to return to the private sector, these people said. They spoke on condition of anonymity because Snow is not ready to discuss his plans publicly.

It was unclear when Snow would offer his resignation, these people said. Bush said he had heard nothing about it.

"He has not talked to me about resignation," Bush said.

"I think he's doing a fine job. After all, our economy is strong," he said during an appearance with British Prime Minister Tony Blair.

Snow, meanwhile, plans to attend the June 9-10 meeting in Russia of finance ministers from the world's richest countries.

Treasury Department spokesman Tony Fratto declined comment on Snow's future.

Snow, 66, took over at Treasury in 2003. He replaced Paul O'Neill, whose blunt talking style came to irk the White House as well as some Republican and Democratic lawmakers in Congress.