Some are wondering if President Barack Obama is going to tap Ken Chenault, CEO of American Express, as his new Treasury Secretary. Bloomberg News is reporting that the White House has reached out to Chenault to tap him as either a cabinet adviser or something else along those lines.
White House Chief of Staff Jack Lew is considered to be the favorite for Treasury Secretary however, but Chenault’s appointment would be historic. Chenault has run American Express since 2001 and has also served on President Obama’s jobs council in the past. He is regularly consulted by the president on economic issues, but can be criticized to be a champion of America’s wealthy and not the working class.