Banking mogul Steven Mnuchin was sworn in Monday as Treasury secretary, with President Trump saying the nation’s financial system is “truly in great hands.”
Mr. Mnuchin took the oath, administered by Vice President Mike Pence, in the Oval Office shortly after he won confirmation in a mostly party-line vote in the U.S. Senate. He was confirmed in a 53-47 vote, with Democrat Joe Minchin of West Virginia siding with Republicans.
Mr. Mnuchin, who helped craft Mr. Trump’s economic agenda during the campaign, vowed to put those plans into practice.
“I will carry your economic vision and goals and I am committed to working with you to enact policies to grow the economy and make better economic opportunities for all Americans,” said Mr. Mnuchin said after being sworn-in.
He was another in a series of Mr. Trump’s picks to squeeze through the bitterly divided Senate, where Democrats have objected to nearly every nominee and slowed the process to a crawl.
“With this appointment I am following through on my promise to appoint only the very best and the very brightest,” Mr. Trump said. “Steven is a financial legend with an incredible track record of success.”
“He has spent his entire career making money in the private sector, and that’s okay. Especially when you’re secretary of the Treasury, that’s what we want. Now he will go to work on behalf of the American taxpayer,” said the president.
However, Democrats fiercely opposed the nomination, calling Mr. Mnuchin a “foreclosure machine” because he headed up OneWest Bank that has been accused of forcing people out of their homes in the aftermath of the 2008 financial meltdown.