Last January, Obama tapped Daley to replace Rahm Emanuel with high expectations. Daley, a former banker who also served as commerce secretary in the Clinton administration, was expected to help the White House improve relations with Wall Street as it implemented a series of financial reforms in the recession’s wake.
But Daley never seemed comfortable in the job, drawing wide criticism for his handling of the bitter and protracted legislative battles between the White House and Congress during much of 2011 that helped drag down the president’s public approval ratings.
Daley struggled to develop relations with members of both houses of Congress, and after he relinquished day-to-day operations to senior adviser Pete Rouse in the fall, his role seemed significantly reduced.
In a brief appearance at the White House on Monday, Obama announced that Daley, 63, will be replaced by budget director Jacob J. Lew, effective at the end of the month. Daley will stay in the job through the president’s State of the Union address Jan. 24 to help ease the transition.
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