Who will be on Trump's economic team?
9 November 2016
Trump won the presidency on his credentials as the anti-establishment outsider. But he likes to boast that he knows the movers and shakers who matter. His advisory team is packed to bursting with hedge fund managers, real estate investors, and bankers. So who might be on Trump's economic team? A former Goldman Sachs executive, Steve Mnuchin could be in line for Treasury Secretary. He's been Trump's campaign finance chairman and a few days ago Trump was reported to favour him for the top economic role. He is currently chief executive of the property investment firm, Dune Capital Management. He also dabbled in the movie business, executive producing the films American Sniper and this summer's superhero blockbuster Suicide Squad. His day job is running Colony Capital, a real estate investment company based in Los Angeles. Forbes describes Thomas Barrack as "contrarian" and the firm does have some unusual assets including Michael Jackson's Neverland ranch. He's another Trump associate with interests in Hollywood as chairman of entertainment company, Miramax. He has previous government experience, having served in the Reagan administration as a deputy undersecretary in the department of the interior. Barrack is of Lebanese heritage, a long-standing friend of Trump and helped raise more than $32m for his campaign. Barrack told the media last month that he was in favour of lowering taxes. Paulson is one of the best-known names on Trump's official Economic Advisory Council. A prominent Wall Street name, the hedge fund manager famously bet that the US housing market would collapse before the 2008 financial crisis and made billions from that insight. In September he sat down to a televised discussion with Trump in which the presidential candidate listed the attributes members of a future administration would need including "track record, competence [and a] love of what they're doing". Wilbur Ross is another billionaire backer of Trump tipped for possible role. He made his money as a bankruptcy specialist at Rothschilds and is now what Forbes describes as a "distressed asset investor". Others use less polite terms for the strategy of picking up troubled companies and trying to shake out any residual value by restructuring them. He is a keen collector of fine art and married to his third wife, Hilary Geary. He told CNBC earlier this year that he was supporting Trump because America needs "a more radical, new approach to government". But he played down some of the promises made on the campaign trail, suggesting they be viewed as "symbolic, more as metaphors". According to some, his name is in the frame for Commerce Secretary. Former boss, now executive chairman of the Nucor Corporation, America's largest steel producer, Dan DiMicco is one of the few industrialists among Trump's advisers. He doesn't know Trump personally, but was appointed a senior trade adviser to the campaign. He is also author of the book American Made: Why Making Things Will Return US To Greatness, in which he argues for a greater focus on manufacturing, and flags up the "false promise" of green jobs and the "hidden costs of outsourcing". But he's less enthusiastic about organised labour: Nucor is proud of its record in remaining "union-free".
A former Goldman Sachs executive, Steve Mnuchin could be in line for Treasury Secretary. He's been Trump's campaign finance chairman and a few days ago Trump was reported to favour him for the top economic role. He is currently chief executive of the property investment firm, Dune Capital Management. He also dabbled in the movie business, executive producing the films American Sniper and this summer's superhero blockbuster Suicide Squad.
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Steve Mnuchin - Treasury Secretary?
Wilbur Ross is another billionaire backer of Trump tipped for possible role. He made his money as a bankruptcy specialist at Rothschilds and is now what Forbes describes as a "distressed asset investor". Others use less polite terms for the strategy of picking up troubled companies and trying to shake out any residual value by restructuring them. He is a keen collector of fine art and married to his third wife, Hilary Geary. He told CNBC earlier this year that he was supporting Trump because America needs "a more radical, new approach to government". But he played down some of the promises made on the campaign trail, suggesting they be viewed as "symbolic, more as metaphors". According to some, his name is in the frame for Commerce Secretary.
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Wilbur Ross - Commerce Secretary?
Former boss, now executive chairman of the Nucor Corporation, America's largest steel producer, Dan DiMicco is one of the few industrialists among Trump's advisers. He doesn't know Trump personally, but was appointed a senior trade adviser to the campaign. He is also author of the book American Made: Why Making Things Will Return US To Greatness, in which he argues for a greater focus on manufacturing, and flags up the "false promise" of green jobs and the "hidden costs of outsourcing". But he's less enthusiastic about organised labour: Nucor is proud of its record in remaining "union-free".
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Dan DiMicco - trade negotiator?