Trump search for Treasury secretary pick widens, sources say

By Free Republic | Created at 2024-11-18 18:11:20 | Updated at 2024-11-18 20:16:26 2 hours ago

Trump search for Treasury secretary pick widens, sources say
Reuters ^ | 11/18/2024 | Steve Holland

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 ...

TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: secretary; treasury

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1 posted on 11/18/2024 9:58:03 AM PST by SeekAndFind

To: SeekAndFind

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.

2 posted on 11/18/2024 10:01:02 AM PST by SeekAndFind

To: SeekAndFind

Reuters is about as credible as Harris. What’s next? The Guardian?

3 posted on 11/18/2024 10:02:39 AM PST by iamgalt

To: SeekAndFind

If MAGA goes the way it should, Gov’t and the Treasury should shrink by an order of magnitude.

4 posted on 11/18/2024 10:03:03 AM PST by Jim W N (MAGA by restoring the Gospel of the Grace of Christ (Jude 3) and our Free Constitutional Republic!)

To: All

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.

5 posted on 11/18/2024 10:09:23 AM PST by Owen

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