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Jack Lew's appointment as treasury secretary comes at a critical moment for the American economy.
Jack Lew, President Barack Obama's ex-chief of staff, has been confirmed as the new US treasury secretary by the Senate, according to Agence-France Press.
Lew will take on the post in the run-up to key budget negotiations in Washington, with the Obama administration and US lawmakers divided over the best way to address a ballooning national deficit, among other pressing fiscal matters.
The Senate voted 71-26 in support of Lew, said the Associated Press. The 57-year-old will replace Timothy Geithner after four years in office.
Lew previously served under Clinton as the White House budget director, according to ABC News.