The Trump transition team has yet to announce who will become the next secretary of the treasury, but a few candidates have emerged in the past week, including Representative Jeb Hensarling of Texas, Trump’s campaign finance chair Steven Mnuchin, and the billionaire investor Wilbur Ross. While the potential appointees do have backgrounds in different areas of finance, from investment banking to private equity, they all (save for Hensarling) have extensive experience on Wall Street.
Politico has reported that Trump’s team has narrowed the field to two names: Mnuchin, who is also a former Goldman Sachs banker, and Ross (who is also rumored to be up for the position of commerce secretary). Hensarling, who is currently the chairman of the House Financial Services Committee, seems to have dropped out of the running and Jamie Dimon, who is currently the CEO of JP Morgan Chase, has reportedly declined to be considered, and yet some insist that he is still (secretly) in the running. The New York Post has also said that Henry Kravis, another billionaire, is on the shortlist.
The rumored favorite is Mnuchin, who now works as a hedge-fund manager. His potential appointment is receiving more scrutiny after two housing advocacy groups filed claims to the Department of Housing and Urban Development calling for an investigation into his former company, OneWest Bank, over allegedly redlining minority home-buyers.