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Steven Mnuchin sworn in as US Secretary of the Treasury

14 February 2017

Anjana Haines

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Steven Mnuchin has been sworn in to serve as the 77th US Secretary of the Treasury. He will be the principal economic adviser to President Donald Trump on domestic and international financial, economic, and tax issues.

The former banker and hedge fund manager will be responsible for the executive branch agency whose mission includes maintaining a strong economy, promoting conditions that enable job growth and stability, protecting the integrity of the financial system, strengthening national security, and managing the US government’s finances effectively.

Mnuchin succeeds Jacob Lew, who served in the position under President Obama.

Trump selected Mnuchin in November 2016 to serve as Secretary of the Treasury after he helped the President during his election campaign. Before his confirmation, Mnuchin was the finance chairman for Trump’s campaign to become president and spent the past year traveling with Trump and met with hundreds of business leaders. He also served as a senior economic adviser to the now President in crafting his economic positions and economic speeches.

Mnuchin’s first main task as the Secretary of the Treasury will be to push forward the Republican party’s plans for tax reform, which includes corporate tax cuts, a border adjustment tax, a preferential rate for repatriating assets held offshore for corporates and stopping corporate inversions.

Earlier in his career, he served as Founder, Chairman, and Chief Executive Officer of Dune Capital Management. He also founded OneWest Bank Group LLC and served as its Chairman and Chief Executive Officer until its sale to CIT Group Inc. Mnuchin previously worked at The Goldman Sachs Group, Inc. where he was a Partner and served as Chief Information Officer.






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