Leave your feedback Share Copy URL https://www.pbs.org/newshour/show/president-bush-taps-goldman-sachs-chief-for-treasury-secretary Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Transcript President Bush nominated Goldman Sachs Chairman Henry Paulson to serve as the secretary of treasury, marking the first time the president has turned to Wall Street for a key position. Analysts consider what the selection may say about the president's economic plans. Read the Full Transcript Notice: Transcripts are machine and human generated and lightly edited for accuracy. They may contain errors. GWEN IFILL: A new economic report out today found that consumer confidence declined this month, falling from April's four-year high. That's the good news and the bad news that dogs the White House as it seeks to balance evidence of a fast-growing economy against consumer anxiety over high gas prices and higher interest rates.All eyes turn now to Henry Paulson, the Goldman Sachs CEO who today became President Bush's choice to succeed John Snow as treasury secretary. The new nominee's first challenge, the president made clear, will be to turn the state of the nation's economy from a liability into a benefit.Both men spoke today at the White House.GEORGE W. BUSH, President of the United States: The American economy is powerful, productive and prosperous. And I look forward to working with Hank Paulson to keep it that way. As treasury secretary, Hank will be my principal adviser on the broad range of domestic and international economic issues that affect the well-being of all Americans. HENRY PAULSON, Treasury Secretary-Designate: The whole world is dependent upon the U.S. economy as a major engine of its growth. And our economy's strength is rooted in the entrepreneurial spirit and the competitive zeal of the American people and in a free and open market.It is truly a marvel, but we cannot take it for granted; we must take steps to maintain our competitive edge in the world.