The U.S. Senate on Tuesday confirmed Lael Brainard as the Treasury Department's top financial diplomat, giving her a key role in U.S. efforts to persuade China to adopt a more flexible currency. The Senate approved President Barack Obama's nominee in a bipartisan 78-to-19 vote that was stalled more than a year by Republican concerns about Brainard's tax payments. Treasury Secretary Timothy Geithner welcomed Brainard's confirmation as undersecretary for international affairs. “At this critical time for our global economic agenda, Lael's leadership will help bolster our partnership abroad and increase economic opportunity for Americans here at home.” The confirmation vote came before meetings this week of the Group of Twenty (G20), the smaller Group of Seven (G7), and the International Monetary Fund and World Bank. As well as holding a key role in talks with China, Brainard, who worked in the Clinton White House, would help move official U.S. positions through the global lending agencies that are being urged to take a stronger role in monitoring global currency policies.
