WASHINGTON, June 28 (UPI) -- The U.S. Senate has confirmed former Goldman Sachs Chief Executive Officer Henry Paulson as the 74th U.S. secretary of the treasury.
Paulson was nominated last month by President George W. Bush to replace retiring Secretary of the Treasury John Snow.
Paulson, 60, served as an aide at the Pentagon and White House during the Nixon administration before going to Goldman Sachs and working his way up to the head of the company.
At Tuesday's nomination hearing, Paulson said he expected to be "quite active" on international issues -- such as trying to persuade China to adopt a flexible currency. CNN reported. He said tax increases would be "a big mistake" and that the best way to shrink the budget deficit was through continued economic growth to generate more revenues.
