President Trump announced on Friday that he will nominate former Rep. Scott Garrett (R-NJ) as President and Chairman of the Export-Import Bank. The Ex-Im Bank subsidizes the financing of U.S. exports, and has been criticized by free market organizations for benefiting special interests such as Boeing and General Electric. During his time in Congress, Garrett was well respected as a fiscal conservative, boasting a 95% lifetime score from the Club for Growth, despite serving in a fairly moderate district in the New York City metropolitan area. He was a member of the Freedom Caucus and the Liberty Caucus, as well as a long-time associate of Rep. Ron Paul (R-TX). Garrett ultimately lost his seat during the 2016 election, but was later said to have been considered for a position within the Federal Housing Finance Agency.