President-elect Donald Trump is currently forming his economic advisory team, and many in the financial industry think Wall Street elites will be at the top of the list for the most influential rolls.
Trump came out early in the summer with a tax plan which raised many eye brows from business leaders both in and outside of the United States. His plan features pro-business goals, like lowering the corporate tax rate and lowering the income tax rate for small businesses. On the other hand, his plan leaves American-based multinationals with some fears, since he promises to ensure they repatriate foreign capital back to the United States. (RELATED: Which Candidate Is Better For Your Bottom Line: Trump Or Clinton?)
The word on the street is that Trump’s pick for Secretary of the Treasury is Steve Mnuchin, former Goldman banker and campaign finance chairman for Trump 2016. If Mnuchin is indeed the choice and he accepts, it would mark the third time a former Goldman employee held the post, the Journal reports.
Mnunchin is already proving himself useful as an economic advisor to Trump throughout the campaign season.
Trump’s choice to head the transition team for the Treasury Department is David Malpass, a former chief economist at Bear Stearns, the Journal reports.
In a move that could fan the flames of those worrying about the future of U.S. trade policy, Trump has chosen a group of economic advisers that are skeptical, to say the least, about the way the U.S. currently carries out global trade. Among these economists sits Peter Navarro, a well-known critic of conventional U.S. trade policy.
The Trump team is filled with hedge fund managers, like Stephen Feinberg, one of the founders of Cerberus Capital Management LP. Many, like Feinberg, joined the team because they believe Trump’s economic and tax policy stances will help spur economic growth.
John A. Paulson, a billionaire investor and prominent name on Wall Street, could be named to a post on the new Trump team, some analysts say.
Send tips to robert@dailycallernewsfoundation.org
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.