The US Senate on Wednesday confirmed a key ally of President Barack Obama to serve as the next treasury secretary, dpa reported.
The Senate voted 71-26 to approve White House chief of staff Jack Lew for the position.
The move puts a key Obama confidant into the cabinet's top economic post amid ongoing economic uncertainty and crucial budget negotiations with Congress.
Obama is reshuffling his cabinet at the start of his second term, with new faces at the State Department, Defence Department and elsewhere. Earlier Wednesday, Defence Secretary Chuck Hagel began work at the Pentagon a day after being confirmed in a largely partisan vote in the Senate.
Lew received more bipartisan support than Hagel, whose past statements about Israel and Iran had haunted his confirmation, with just four Republicans joining Democrats in supporting him.
The Senate Banking Committee Tuesday cleared Lew in a 19-5 vote.
Lew, a long-time Washington insider, succeeds first-term treasury secretary Timothy Geithner, who left office on January 26.
Lew, 57, has been Obama's chief of staff since January 2012. He previously served as chief of the White House Office of Management and Budget under both Obama from 2010-12 and under president Bill Clinton from 1998-2001.
"At this critical time for our economy and our country, there is no one more qualified for this position than Jack," Obama said in a statement welcoming Lew's confirmation.
"His reputation as a master of fiscal issues who can work with leaders on both sides of the aisle has already helped him succeed in some of the toughest jobs in Washington," Obama said.
Lew told the Senate earlier this month in his confirmation hearing that the United States economy has overcome the financial crisis that Obama faced on taking office in 2009, but more progress is needed.