The U.S. Senate on Wednesday confirmed Jack Lew as President Barack Obama's new Treasury secretary. He was approved by a vote of 71-26. All 53 Democrats were on board. Lew will be challenged with negotiations to the end the debt ceiling crisis and reach a deal to prevent sequestration cuts.
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Political News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.