Research Fellow, Public Finance Economist, Grover M. Hermann Center for the Federal Budget
Posted on 11/18/2024 9:58:03 AM PST by SeekAndFind
WEST PALM BEACH, Florida, Nov 18 (Reuters) - President-elect Donald Trump's search for a Treasury secretary is widening after it stalled over the weekend and he is looking at other candidates, two sources briefed on the matter said on Monday.
Banker Howard Lutnick and investor Scott Bessent had been lead candidates for the top Treasury job in the new Trump administration, Reuters reported last week. However, no announcement about the position was made and the team has widened the search, the two sources said.
Among the other names being considered are Apollo Global Management (APO.N), opens new tab Chief Executive Marc Rowan, one of the sources said, and former Federal Reserve Governor Kevin Warsh, according to a separate source briefed on the matter, confirming earlier reporting by the New York Times and the Wall Street Journal.
Rowan and Warsh did not immediately respond to requests for comment. A spokesperson for Bessent declined to comment. A spokesperson for Lutnick declined to comment. It was unclear if any candidates had been ruled out or if other names could be added to the mix. A number of other people have also been speculated for the position.
The Treasury secretary role is one of the highest-profile cabinet posts, overseeing the country’s financial and economic policy. As such, it is one of the key roles being watched by global investors and Wall Street.
As of Sunday, Trump was also considering Lutnick for another economic job, possibly that of commerce secretary, the source briefed on the matter told Reuters, speaking on condition of anonymity.
(Excerpt) Read more at reuters.com ...
Scott Bessent used to work for George Soros’ Soros Fund Management (SFM) and was a partner there throughout the 1990s, eventually becoming the head of the London office.
Bessent was a leading member of the team whose bet regarding the collapse of the British pound garnered over $1 billion for the firm. His bet against the Japanese yen in 2013 brought additional profit.
That background makes me feel uncomfortable considering him.
But anyone who wants a DEI hire would like this guy. He’s gay and “married” and has two kids.
Reuters is about as credible as Harris. What’s next? The Guardian?
If MAGA goes the way it should, Gov’t and the Treasury should shrink by an order of magnitude.
Treasury Secretary really only has two jobs.
1) Decide on maturity of the debt instruments issued each year for the deficit. And don’t believe your own propaganda. There will be deficits, of enormous magnitudes.
2) Maneuver money to keep the wheels turning every year or so when the next debt ceiling fight is underway and denying Treasury new money to fulfill obligations.
The Swamp imagines it to be a policy making position, but it need not be.
Ron Paul?
Bessent is a Soros guy. Why his name is begin thrown around is nuts!
He’s placing young people in all the positions for the most part. I don’t see Ron Paul getting a post like that. I do agree that they need to expand the search Beyond the two considered. Of those two, l u t n i c k is the better choice. I’m not interested in a homo that pretends it’s normal and is tormenting kids in doing so
“Treasury Secretary really only has two jobs.”
If the Federal Reserve is eliminated, the Treasury will be responsible for issuing the currency and making loans to banks.
I love it
Sarah Palin.
Research Fellow, Public Finance Economist, Grover M. Hermann Center for the Federal Budget
Better to be right than fast in this case. No rush
As with others, the primary credential is not being from DC.
rumor that Trump is getting a little tired of Howard Lutnick in terms of lobbying hard for position and trying to insert himself everywhere. Might be true since Trump might be looking elsewhere
It was funny to see Kid Rock sitting next to Elon sitting next to Trump. You can bet a lot of people were jockeying for seating order.
E.J. Antoni
—
Warning: do not look directly into his eyes!!!
Larry Kudlow
i’ll do it and strictly on a % basis...
Maybe he’d be good in that job; I didn’t know. But he’s one of the most excruciatingly boring people I’ve ever seen in media. Plus, he’s scary looking. When I see his face I am gone.
Kudlow already declined.
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