Mnuchin, Steven Terner

Mnuchin, Steven Terner məno͞ochən [key], 1962–, U.S. business leader, b. New York City, grad. Yale, 1985. An investment banker, he joined Goldman Sachs in 1985, becoming a partner in 1994 and executive vice president in 2001 before leaving in 2002. He then worked at hedge funds including Dune Capital Management, which he helped establish (2004) and where he served as CEO and chairman. In 2009 Mnuchin led a group that bought the distressed subprime lender IndyMac Bank, renamed it OneWest Bank, and added to it by buying up other failed banks. The bank, which was sold to the CIT Group in 2015, was criticized and fined for its foreclosure practices. Mnuchin has also produced successful motion pictures. In 2016 he became national finance chairman of Donald Trump's successful presidential campaign, and he subsequently was (2017–21) Trump's secretary of the treasury. During the COVID-19 pandemic, he played a prominent role, along with Jerome Powell at the Federal Reserve, in coordinating and developing the federal government's economic response to the effects of the crisis.

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