TIMOTHY GEITHNER

Does anyone recall last Monday's stock market panic?

The White House has identified two economists to fill vacant seats on the Federal Reserve's powerful seven-member board, the Wall Street Journal reported on Friday, citing unnamed sources.

Bank of America Chief Executive Brian Moynihan met privately this week with Treasury Secretary Timothy Geithner and Federal Reserve governor Daniel Tarullo amid the campaign to calm investors and employees about the bank's share price fall, the Wall Street Journal reported.

The Obama administration is looking for new ideas to shrink a glut of foreclosed properties held by mortgage finance giants Fannie Mae and Freddie Mac that are weighing down the housing market and hurting home prices.

The amount of negative attention Standard & Poor's has received since its decision to downgrade U.S. long-term debt, would make it seem like the rating agency is public enemy number one.

Treasury Secretary Timothy Geithner discussed the global economy and the state of financial markets on Tuesday with his Chinese counterpart, Vice Premier Wang Qishan, the Treasury said.

China's Premier Wen Jiabao urged nations to work together to stabilize turbulent financial markets on Tuesday as global stocks stumbled on fears that the world economy is headed for a downturn.

Treasury Secretary Timothy Geithner has assured President Obama he will keep his position through the current term, despite calls for him to resign in light of the S&P downgrade.

After considering a resignation once a debt deal was reached, U.S. Treasury Secretary Timothy Geithner confirmed on Sunday that he will remain at his post at President Barack Obama's request, making him Obama's longest-serving economic adviser after the first-ever U.S. credit downgrade.

Global investors flock to precious metal as safe haven.

Bullion roared to record highs above $1,700 an ounce on Monday as an unprecedented downgrade to the U.S. credit rating sent investors scrambling out of riskier assets, hammering equity markets and the dollar.

Treasury Secretary Timothy Geithner, who had considered stepping down after the government borrowing limit was raised, confirmed on Sunday that he will remain at his post at President Barack Obama's request.

The European Central Bank stepped into bond markets on Monday, backing up a pledge to support Spain and Italy with the aim of averting financial meltdown in the euro zone, while the G7 and G20 offered soothing words to investors shaken by a historic downgrade of the U.S. debt rating.

Bullion roared to a record on Monday above $1,700 an ounce as an unprecedented downgrade to the U.S. credit rating sent investors scrambling out of riskier assets, hammering equity markets and the dollar.

Treasury Secretary Timothy Geithner will remain in the position at President Barack Obama's request. Geithner considered stepping down after the government borrowing limit was raised.

The Group of Seven nations is committed to taking coordinated action to ensure liquidity and to support financial market functioning, financial stability and economic growth, G7 finance ministers and central bank governors said in a statement.

It wasn't long after Standard & Poor's lowered the United States' credit rating from AAA to AA+, for the blame game to begin.

The United States lost its top-tier AAA credit rating from Standard & Poor's, drawing a blast of criticism on Saturday from its biggest creditor China and deepening investors' alarm over the euro zone's debt crisis.

Republican presidential hopefuls congresswoman Michelle Bachmann of Minnesota and businessman Herman Cain have also called for Geithner to quit.

President Barack Obama has asked Timothy Geithner to stay on as Treasury secretary and a decision is expected soon, officials said on Thursday.

Just hours ahead of a deadline to avert an unprecedented default, President Barack Obama, without public ceremony, signs a bill that raises the $14.3 trillion debt ceiling and sets in motion a plan to reduce U.S. deficits over 10 years.