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Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in , Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors. 2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a foreclosure machine.Steven Mnuchin misled senators by saying the bank he invested in and ran didnt use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining . View photos National Economic Director Gary Cohn (left) and Treasury Secretary Steven Mnuchin takequestions while unveiling the Trump administration's tax reform proposal. More 3. Mnuchin is painfully under-informed about automations potential to decimate labor. In an interview with Axios Mike Allen , Mnuchin said he was not at all concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was 50 or 100 years. As The Verges Adi Robinson noted, [a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years. 4.Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economys forgotten workers, Trump plucked the chief executive of the Hardees and Carls Jr. burger chains to lead the nations top workplace watchdog.
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