Trump tapping Washington, Wall Street veterans for top jobs
WASHINGTON — President-elect Donald Trump is enlisting a trio of nominees with deep ties to Washington and Wall Street to fill out his Cabinet, including former Goldman Sachs executive Steven Mnuchin as secretary of the Treasury Department.
On Tuesday, Trump also chose Georgia Rep. Tom Price to oversee the nation’s health care system, picking a fierce “Obamacare” critic who has championed efforts to privatize Medicare. And he selected another veteran Republican, Elaine Chao, a former labor secretary and the wife of Senate Majority Leader Mitch McConnell, to lead the Department of Transportation.
Mnuchin’s official announcement was expected as early as Wednesday, according to a person familiar with the decision who insisted on anonymity in order to confirm the pick ahead of time.
Mnuchin, 53, led Trump’s finance operations during the presidential campaign and become close with the president-elect and his family. But he has no government experience, which could prove a hurdle in navigating the tricky politics of Washington.
If confirmed by the Senate, Mnuchin would play a central role in shaping Trump’s tax policies and infrastructure plans. He would also lead an agency tasked with implementing international economic sanctions.
Mnuchin is expected to be joined on Trump’s senior economic team by another financier, Wilbur Ross. The billionaire investor is considered the “king of bankruptcy” for buying beaten-down companies with the potential to deliver profits.