Senate Confirms Sheets as Treasury Under Secretary for International Affairs

By Ian Talley 

WASHINGTON--The U.S. Senate Thursday confirmed former Federal Reserve official and Citigroup economist Nathan Sheets to be the Treasury's Department's top economic diplomat.

As Treasury Under Secretary for International Affairs Sheets, Mr. Sheets would take the lead on urging China to appreciate its exchange rate, pushing Europe to boost growth and negotiating the shape of the global financial architecture.

Mr. Sheets, who is accompanying Treasury Secretary Jacob Lew on his way to a meeting of global finance ministers and central bankers in Australia, has been serving as a special adviser to Mr. Lew since early this year. Before moving to Treasury, he was Citigroup's global head of international economics since 2011. Before that he spent almost two decades at the Fed, including as the head of its international finance division.

"Nathan's distinguished career in both the public sector and private sector will be invaluable to the administration at this important moment for the global economy," Mr. Lew said in a statement. The Treasury secretary said Mr. Sheets "will play a key role in our continued efforts to promote growth and to level the playing field for American workers and firms."

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