Although it is as yet unclear as to what post Olmem will take, the National Economic Council coordinates on economic policy matters across Trump’s Cabinet. Olmem, an attorney, was a leading staff negotiator who put together the Doff-Frank Act, which led to Wall Street reforms. The move comes in the wake of attempts to lower set standards, be it in the finance industry or environmental ones.
As per two sources familiar with the matter at hand, Andrew Olmem, former Republican congressional aide who is also an attorney, has joined the White House National Economic Council as a deputy to Gary Cohn.
Last week, Venable LLP stated that Olmem, who was an attorney to the Senate Banking Committee during the 2008 financial crisis, left his job at the law firm.
During the 2008 financial crisis, Olmem was a leading staff negotiator who worked on the 2010 Dodd-Frank Act, which ultimately led to financial reforms for Wall Street.
“Mr. Olmem was particularly involved with its provisions dealing with the regulation and resolution of systemic financial institutions, Federal Reserve liquidity programs, financial regulatory structure, and prudential regulation of financial institutions,” reads Olmem’s profile at Venable LLP.
The White House did not respond to a request for comment.
The National Economic Council is to coordinate on economic policy matters across President Donald Trump’s Cabinet. As yet, it is unclear as to what post Olmem will take.