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Jonathan Greenstein

Official · Treasury

PPP
Type
Person
Role
Official · Treasury
Programs
PPP
Updated
  • Pandemic-program role: A Treasury Deputy Assistant Secretary for Financial Institution Policy during the Trump first term, Greenstein is thanked by name "for helpful feedback" in Treasury's own PPP working paper estimating the program's job-preservation effects.
  • Institution · office: Treasury · Office of Financial Institutions / Financial Institution Policy (Domestic Finance) · Type: political (Deputy Assistant Secretary; political appointee, non-career SES presumed)
  • Tenure (relief-relevant): Listed as a Deputy Assistant Secretary in the 2020 Plum Book, which places him in post during PPP; exact start and end dates are not in any copy we have.

The job (role mechanics)

  • Level / appointment: Deputy Assistant Secretary, a political appointment below the Senate-confirmed Assistant Secretary; not itself Senate-confirmed. (His 2025 nomination to be Deputy Under Secretary of the Treasury is a separate, Senate-confirmed PAS post; see "Career after.")
  • Reports to: Assistant Secretary for Financial Institutions (Bimal Patel for the relevant 2019–2020 stretch).
  • Core responsibility: Develop and coordinate financial-institution policy (banks, credit, related regulation) within Treasury's Office of Financial Institutions; serve as a working-level contact with the financial-services industry and regulators.
  • Pay: Non-career SES presumed; no individual salary figure is documented.
  • Expectations / mandate: Translate Treasury financial-institution priorities into policy; coordinate with lenders and regulators.
  • Tenure norm: Serves at the pleasure of the administration; political DAS appointees turn over with the administration.

Who they are

Jonathan Greenstein is a Treasury financial-institutions official. The documents we have are the 2020 Plum Book listing and the working-paper acknowledgment below; his later Senate role and 2025 nomination are cited to pages we do not have copies of.

Education

  • Yale Law School, J.D., Class of 2014 (Yale Law Center for the Study of Corporate Law page).

Career before

  • U.S. Treasury: Deputy Assistant Secretary for Financial Institution Policy during the Trump first term (the pandemic-relevant role; see below).

Role in the pandemic relief programs

  • No document we have describes Greenstein's individual PPP duties; his only first-party pandemic-program record is the working-paper acknowledgment below.
  • Treasury's Office of Economic Policy Working Paper 2020-01, "The Job-Preservation Effects of Paycheck Protection Program Loans" (Michael Faulkender, Robert Jackman, and Stephen I. Miran; Dec. 16, 2020) thanks Greenstein by name in its acknowledgments footnote. The verbatim line:

"We are also grateful to Tanner Black, Jonathan Greenstein, Mitchell Petersen, Jim Poterba, and Josh Rauh for helpful feedback, and to Leah Damelin for research assistance."

The same footnote thanks Steven Johnson and Matthijs Schendstok for "many helpful comments and assistance with analysis." The paper gives no title for him; he is named simply as "Jonathan Greenstein." The footnote also discloses that two of the authors (Faulkender and Miran) "contributed to Treasury's efforts to support the Small Business Administration's implementation of PPP."

Documents written or signed

  • Acknowledged in Treasury Office of Economic Policy Working Paper 2020-01, "The Job-Preservation Effects of Paycheck Protection Program Loans"; the authors are Faulkender, Jackman, and Miran.
  • No PPP rule, FAQ, or guidance signed by Greenstein individually has been located.

Career after / where they are now

  • Moved to the U.S. Senate as Senator Bill Hagerty's (R-TN) first Senior Economic Policy Advisor, starting when Hagerty took office; Hagerty's Sept. 12, 2025 release introducing him as the Treasury nominee says he "was my very first senior economic policy advisor when I came to the Senate."
  • In 2025 he was nominated to be Deputy Under Secretary of the Treasury (Senate-confirmed post). By January 16, 2026 he held the post: a Treasury Inspector General audit memorandum of that date (OIG-26-011) is addressed to him as Deputy Under Secretary for International Affairs. The Senate Finance Committee hearing page (Sept. 10, 2025) is cited, but we do not have a copy; the congress.gov nomination record (PN129-6, 119th Congress) is cited, but we do not have a copy.

Sources held in this archive

Original source documents and archived captures

Sources (first-party)

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