Mamdani, a 33-year-old New York State Assembly member, decisively defeated disgraced former New York Gov. Andrew Cuomo with 56% to 44% in the final ranked-choice voting results.

Two prominent Obama-era officials, former Treasury Secretary Jack Lew and former Office of Management and Budget Director Peter Orszag, have publicly opposed Mamdani's candidacy, warning that his progressive economic policies could harm New York City.

In a CNBC interview on Wednesday, Lew expressed deep concern about Mamdani's platform. "The policies that he outlines are not policies that would be good for New York," Lew said. "I worry deeply, having spent most of my life in New York, about a city I call home." He further cautioned against populist-driven policies from both political extremes, stating, "I see a similarity between policies solutions to the left and the right that satisfy populist sentiment, don't always go through the filter of 'do they work? I don't think they work. I think that's a problem," Lew added.