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White House Shake-up: Who Is Jack Lew?

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    Budget director replacing Daley as chief of staff

  • Duration 3:05
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Big shakeup underway at the White House president Obama's chief of staff is stepping down.

Bill Daley former executive at JPMorgan Chase held the post for just one year.

Because we Wall Street ties Daly was seen by many as a moderate Democrat who could improve White House connections with the business community.

She -- -- White House correspond Ed Henry joins us now so.

His replacement Jack blue wolf what can we expect from him.

And what's interesting because you mentioned bill -- having some ties to Wall -- the president made a big deal about that a year ago this week in fact when bill -- was -- White House chief of staff that he -- somebody knew how to create jobs could work with Republicans -- on business issues there was a great outreach -- -- bill -- in this White House once he came -- a year -- to the US chamber of commerce and other business groups for example president didn't talk about that yesterday because Jack -- -- -- as a bit more liberal than bill -- he's -- the president white house budget -- but he also used to work up on Capitol -- years ago and the president -- that yesterday -- -- -- Ever since he began his career in public service -- top aide to speaker Tip O'Neill.

Jackets fought for an America where hard work and responsibility pay off.

A place where everybody gets a fair shot.

-- the president did not mention there though that Jack flew the incoming White House chief of staff also worked at Citigroup as a hedge fund executive perhaps because that does not quite fit the narrative the president has been pushing in recent weeks and months.

About standing up for the middle class.

Getting tough on Wall Street.

There -- so what does this mean for how the president is trying to frame his reelection for him.

Well look the White House chief of staff is not running the campaign but has a vast amount of power over the president's schedule but what issues they're going to focus on and the assumption -- democratic circles had been that -- bill -- was staying on his chief of staff for another year as many expected it be a much more centrist.

Pro business a reach out try to work the middle Jack -- is seen as somebody who doesn't have that kind of background so I would anticipate -- we're gonna see a lot more the rhetoric we've heard from the president recent weeks that speech in Kansas where he's talking about a fair shake up for the middle class and all last week when he was touting his recess appointment of Richard court -- the new consumer protection chief and again that was all about.

-- standing up for the middle class taking on Wall Street.

This is another signal the president's going that way this year job and even a brutal job and chief of staff is a brutally tough job.

01 -- stages abnormally short.

Very briefing the president now it just in the span of three years is essentially had.

Four chiefs of staff here we should be -- stated Pete Rouse was only on the job as as that in turn chief of staff.

For a couple months after Rahm Emanuel left but nonetheless was was in that job so he's had at least three or four if you include Rahm Emanuel Pete -- Bill Daly and now Jack -- that's a lot of -- even in a back breaking job job.

Ed Henry White House and thank you.

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