U.S. Treasury Secretary Timothy Geithner
U.S. Treasury Secretary Timothy Geithner speaks at the Clinton Global Initiative in Chicago, June 30, 2011. Geithner said on Thursday he plans to remain in his post for the foreseeable future. REUTERS

Treasury Secretary Timothy Geithner said Thursday at a conference that he would remain as President Obama's top economic official for the foreseeable future after a report saying he was considering stepping down.

I live for this work, it's the only work I've done, and I believe in it, Geithner said a Chicago conference, according to the New York Times. I'm going to be doing it for the foreseeable future.

Geithner is considering leaving the administration if Obama reaches a deal with congress to raise the federal debt limit, Bloomberg reported, three people familiar with the matter told Bloomberg.

One person told the publication that Geithner has not made a final decision and will not do so until a deal has been reached on the debt.

Geithner has written various letters to lawmakers and testified before Congress that failing to increase the U.S. $14.3 trillion debt limit would be a catastrophic mistake. He has also endorsed the administration's position to not require large spending cuts in order to raise the debt limit, saying both issues should be considered separately.