President-elect Trump’s transition team has reportedly recommended Steven Mnuchin, Trump’s campaign finance chairman and a former Goldman Sachs banker, for the post of treasury secretary.
Far from an outsider, Mnuchin, who runs a hedge fund, would come into the office bringing extensive associations with one of the most politically-connected Wall Street firms, as well as with Hollywood.
Trump has not yet announced a decision. On Monday morning, however, his campaign manager Kellyanne Conway reportedly told reporters outside Trump Tower that an announcement regarding Trump’s selection for treasury secretary could come as early as this week.
Bloomberg first reported Monday that the transition team has recommended Mnuchin, one of several names that had been floated regarding the job.
Mnuchin would be the second Goldman Sachs alumnus treasury secretary in a decade, following George W. Bush secretary Hank Paulson, and the second straight under a Republican.
Trump ran for president promising to “drain the swamp,” meaning decrease special interest influence in Washington. In the days since winning the presidency, however, he has indicated a course of policy more amenable to the financial industry.
Yet any nominee with a background in finance is likely to face tough scrutiny during the Senate nomination process, especially from liberal Democrats who have hinted that they will oppose such nominees.
