Calvin Coolidge to work jointly with Edward T. Clark, a Massachusetts Republican organizer whom he retained from his vice-presidential staff, as Secretaries to the President (a position equivalent to the modern White House Chief of Staff). Perhaps the most powerful person in Coolidge's Cabinet was Secretary of the Treasury Andrew Mellon, who controlled the administration's financial policies and was regarded by many, including House Minority Leader John Nance Garner, as more powerful than Coolidge himself. Secretary of Commerce Herbert Hoover also held a prominent place in Coolidge's Cabinet, in part because Coolidge found value in Hoover's ability to win positive publicity with
Presidency of Calvin Coolidge the FTC largely stopped prosecuting anti-trust cases, allowing companies like Alcoa to dominate entire industries. Coolidge also avoided interfering with the workings of the Federal Reserve, which kept interest rates low and allowed for the expansion of margin trading in the stock market. The 1922 Fordney–McCumber Tariff allowed the president some leeway in determining tariff rates, and Coolidge used his power to raise the already-high rates set by Fordney–McCumber. He also staffed the United States Tariff Commission, a board that advised the president on tariff rates, with businessmen who favored high tariffs. Secretary of Commerce Hoover energetically used government auspices