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President Obama on Tuesday will nominate Timothy Massad as chairman of the Commodity Futures Trading Commission, a White House official said. (Treasury.gov)

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President Barack Obama walks from Marine One on the South Lawn after returning to the White House in Washington, Saturday, Nov. 9, 2013, from a trip to Florida. (AP Photo/Susan Walsh)

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President Barack Obama talks on the phone in the Treaty Room Office in the White House residence. (Official White House Photo by Pete Souza)

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President Barack Obama waves as he walks from the White House in Washington, Friday, Nov. 8, 2013, to board the Marine One helicopter for a short trip flight to Andrews Air Force Base, Md., then on to New Orleans to promote the importance of exports in growing the U.S. economy. (AP Photo/J. Scott Applewhite)

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President Barack Obama holds a football while listening during a briefing with advisors in the Roosevelt Room of the White House May 4, 2009. (Official White House Photo by Pete Souza)