US Senate confirms Jack Lew as new US Treasury Secretary

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.