The U.S. Treasury's Thin Bench.

AuthorPethokoukis, J.

If Mnuchin or any successor is to perform better in a more serious crisis, they'll need an effective team at Treasury. But the bench is awfully, even dangerously, thin. Key positions, at the under, assistant, and deputy assistant secretary level-all of which proved crucial to Paulson in abating the last financial crisis-have been left vacant or are filled by those seemingly underqualified for the job. Of the sixteen undersecretaries or assistant secretaries that make up the core of the department's decision-making apparatus, only eight positions are filled permanently and only six have been confirmed by the Senate.

By comparison, all but one of the top spots in Secretary Hank...

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