President Barack Obama is reportedly set to tap a native New Yorker to serve as the new head of the United States Treasury Department.

The Associated Press says an announcement naming current chief of staff Jack Lew as the president's pick could come by the end of the week.

White House officials will not confirm that the final decision has been made, but the
AP cites sources as saying Obama will choose Lew because of his wide variety of experience in both the government and private sector.

Lew was head of the Office of Management and Budget and in charge of economic issues at the State Department.

He is a Queens native and a graduate of Forest Hills high school.