Penny Pritzker, one of the nation's richest people and a "longtime political supporter and heavyweight fundraiser," as TheChicago Tribune writes, is President Obama's choice to be his next secretary of commerce.
The president announced the news this hour at the White House. He also said that one of his economic advisers, Michael Froman, is his choice to be the next U.S. trade representative.
NPR's business news starts with two new cabinet appointments.
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MONTAGNE: This morning, President Obama appointed Penny Pritzker to run the commerce department.
DAVID GREENE, HOST:
Pritzker is an heiress to the Hyatt hotel empire. She also served on the president's Economic Recovery Advisory Board, and she is a long time financial backer of the president's political campaigns. Forbes ranks her as one of 300 richest Americans.
This is MORNING EDITION from NPR News. Good morning. I'm David Greene.
RENEE MONTAGNE, HOST:
And I'm Renee Montagne. Mexico's agonizing war on its drug cartels is about to change and President Obama is about to hear it personally from Mexico's new president. On a trip to Mexico that begins today, Mr. Obama will also focus on trade and economic opportunities between the two countries.
During the housing bust, taxpayers were forced to bail out mortgage giants Fannie Mae and Freddie Mac. But thanks to the real estate recovery, Fannie Mae could end up paying tens of billions of dollars back to the Treasury this summer.
That's just one of the factors behind a better bottom line for the federal government. This week, the Treasury Department announced it will pay down some of its debt for the first time in six years.
From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.
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And I'm Audie Cornish.
President Obama today announced two new heads of agencies that play key roles in the economy. He tapped former wireless and cable industry executive, Tom Wheeler, to head the Federal Communications Commission. And he's naming North Carolina Democrat and veteran Congressman Melvin Watt to head the Federal Housing Finance Agency.
Now, you've probably noticed this. Political drama is not confined to just the news on TV these days. We are in an era that is seeing a proliferation of politically themed television and other forms of streaming. And maybe you've also noticed shows like "Veep."
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JULIA LOUIS-DREYFUS: (as Vice President Selina Meyer) I'm the vice president of the United States, you stupid little (bleep).
This is TALK OF THE NATION. I'm John Donvan in Washington. Mass momentum for Markey, Sanford's ears and what they can't always hear, and Obama's sequester quest for an understanding with the GOP. It is Wednesday and time for a...
PRESIDENT BARACK OBAMA: Trapped in a Taylor Swift album...
DONVAN: Edition of the political junkie.
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PRESIDENT RONALD REAGAN: There you go again.
VICE PRESIDENT WALTER MONDALE: When I hear your new ideas, I'm reminded of that ad: Where's the beef?