President Obama's cabinet grew last week as the Senate confirmed Shaun Donovan as the new secretary of Housing and Urban Development, and Ray LaHood as head of the Department of Transportation.

Donovan and LaHood may end up working in tandem on some issues under the administration. Donovan, the 42-year-old former chairman of the New York City Housing Development Corp. and commissioner of the city's Department of Housing Preservation and Development, has said he would like to see low-income housing developments coupled with transportation projects, as well as an increase in the role of rental housing.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.