Steve Mnuchin

From Grokipedia

Steven Terner Mnuchin (born December 21, 1962) is an American investment banker who served as the 77th United States Secretary of the Treasury from 2017 to 2021. Raised in New York City, Mnuchin graduated from Yale University with a bachelor's degree in 1985 and spent 17 years at Goldman Sachs in mortgage trading and other financial roles before founding his own hedge fund, Dune Capital Management, which invested in entertainment and real estate. As Treasury Secretary under President Donald Trump, Mnuchin played a central role in enacting the Tax Cuts and Jobs Act of 2017, which lowered corporate tax rates from 35% to 21% and aimed to boost economic growth through deregulation and repatriation incentives. He also led efforts to impose sanctions on nations like North Korea and Iran to counter security threats and managed the CARES Act's $2.2 trillion in pandemic relief funding, including direct payments and business loans to mitigate economic contraction. Mnuchin's tenure drew criticism for his prior involvement in foreclosures via OneWest Bank, which acquired distressed mortgages post-2008 crisis and pursued aggressive collections, though he maintained these actions stabilized the housing market. Since leaving office, Mnuchin has pursued private investments, including raising billions for distressed asset funds with Middle Eastern sovereign wealth involvement.

In brief

Steve Mnuchin was born in New York City and followed his father onto the Goldman Sachs partnership track, rising to chief information officer before leaving to start funds of his own. Hollywood came next: Dune Entertainment helped underwrite a run of 20th Century Fox hits.

Washington asked for a different skill — talking markets to Congress while keeping a cabinet job for a full term. He left office as one of the few senior economic officials to last the distance, then returned to investing.