In his new role as Treasury secretary, Jack Lew will be the principal economic adviser to President Obama on domestic and international financial, economic and tax issues and will lead the Treasury Department in promoting the economy, fiscal sustainability and stability in the global financial system.
Lew, who most recently served as White House chief of staff, was sworn in as the 76th Treasury secretary and succeeds Timothy Geithner. Lew, seen above on the left, met with reporters, along with Federal Reserve Chairman Ben Bernanke, at the Treasury Department after being sworn in at the White House. He was confirmed by the U.S. Senate by a vote of 71–26 on February 27.
He was sworn into office February 28 by Vice President Biden at a White House ceremony in the Oval Office, with President Obama at his side.
“I am pleased that the Senate took bipartisan action today to confirm Jack Lew as our nation’s next Treasury secretary,” said President Obama in a statement released February 27. “At this critical time for our economy and our country, there is no one more qualified for this position than Jack.”
Lew previously served as director of the Office of Management and Budget, a position he also held in President Bill Clinton’s administration from 1998 to 2001. Lew also served as deputy secretary of state.