Trump Expands Treasury Secretary Candidates

WASHINGTON (Reuters) – President-elect Donald Trump added former Federal Reserve Governor Kevin Warsh and billionaire Marc Rowan to the list of candidates for Treasury Secretary, according to reports from the New York Times and Wall Street Journal on Sunday.

Warsh, 54, a former investment banker, served on the Federal Reserve Board from 2006 to 2011. He was recognized as both a fiscal hawk and an advocate for higher savings rates.

Rowan, 62, co-founded Apollo Global Management and became its CEO in 2021.

Republican U.S. Senator Bill Hagerty of Tennessee, 65, who met Trump at Mar-a-Lago last week, is also in the running, per the Wall Street Journal.

Although Trump has not made a nominee announcement yet, Howard Lutnick, CEO of Cantor Fitzgerald, and investor Scott Bessent have been viewed as top candidates.

However, the president-elect seems to be reconsidering Lutnick and Bessent, as indicated by the New York Times, and plans to invite candidates for discussions at his Mar-a-Lago club this week.

Lutnick co-chaired Trump’s transition effort and has consistently praised the president-elect’s economic policies, including his support for tariffs.

Bessent, a vital economic adviser, is a veteran hedge fund investor with a long-standing connection to the president-elect, having also taught at Yale University.

Billionaire Elon Musk and Robert F. Kennedy Jr. expressed support for Lutnick on Saturday, highlighting the ongoing internal dynamics concerning the decision.

The Trump transition team did not respond immediately to a request for comment.