President-elect Donald Trump has now nominated a third person with Goldman Sachs ties to serve in his White House. On Monday, the president-elect officially announced that he has tapped Goldman Sachs President Gary Cohn to serve as director of his National Economic Council. "As my top economic adviser, Gary Cohn is going to put his talents as a highly successful businessman to work for the American people," Trump said in a statement. "He will help craft economic policies that will grow wages for our workers, stop the exodus of jobs overseas, and create many great new opportunities for Americans who have been struggling."
When Cohn's possible appointment was first reported last week, eyebrows immediately shot up. Though Trump promised to drain the swamp during his campaign, repeatedly hitting Hillary Clinton for her Wall Street ties, he had already tapped former Goldman Sachs partner Steven Mnuchin for treasury secretary and Stephen Bannon, a previous employee of the investment banking giant, to be his chief strategist.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
