So what kind of economy would Mnuchin be inheriting as the head of the Treasury? What are his plans for the US economy? We thought it'd be most appropriate to explain it in GIFs from some of his films.
First of all, the Federal Reserve's interest rate went up
at the end of 2016. That means credit card and mortgage rates would go with it. Like a punch to the gut and/or the face.
The unemployment rate
in January was 4.8%. It hovered between 4.7% and 5% in 2016.
The stock market saw record highs
during the first month of Donald Trump's presidency. On Monday alone, the Dow, S&P 500 and Nasdaq each soared to all-time heights.
The US debt is estimated at more than $19 trillion
. When Obama took office
in January 2009, the debt was $10.6 trillion.
During the last three months of 2016, the economy saw a growth rate of 1.9%
-- the slowest since 2011. President Trump is trying to give Americans something to hope for by promising to boost that to 4%.
Median household income in the US rose to about $56,000 in 2015
. That's more than a 5% increase from 2014. We can all drink to that.
So what is Mnuchin wanting to do at Treasury? Well, first he had to face off
with Democrats on the Senate Finance Committee.
Remember that time the housing market exploded? Mnuchin felt the heat
for his involvement with IndyMac, the sub-prime home loan lender that he bought in 2009.
After a delay
, Mnuchin made it past the Senate with a 53-47 vote
. Now Mnuchin wants to implement a "bold economic agenda."
Mnuchin told CNBC that
he wants to do the largest tax overhaul since President Ronald Reagan's administration. President-elect Trump has previously said that he wants to slash
the tax brackets from seven to three.
In the same interview, Mnuchin promised corporate tax rates will fall in an effort to encourage domestic job growth.
Want more info? Check out the Mnuchin coverage from our friends at CNN Money