Trump search for Treasury pick widens, sources say

investing.com 18/11/2024 - 16:42 PM

By Steve Holland

WEST PALM BEACH, Florida (Reuters) – President-elect Donald Trump's search for a Treasury secretary is widening after it stalled over the weekend. He is looking at other candidates, according to two sources briefed on the matter.

Banker Howard Lutnick and investor Scott Bessent had been lead candidates for the top Treasury job in the new Trump administration. However, no announcement about the position was made, and the team has expanded the search.

Among the other names being considered are Apollo Global Management Chief Executive Marc Rowan, and former Federal Reserve Governor Kevin Warsh. This confirmation comes from a separate source, affirming earlier reports 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 and Lutnick also declined to comment. Details remain unclear on whether any candidates have been ruled out or if additional names could be introduced.

The Treasury secretary role is one of the highest-profile cabinet posts, overseeing the country’s financial and economic policy. It is crucial for global investors and Wall Street.

As of Sunday, Trump was also considering Lutnick for a different economic position, potentially that of commerce secretary. Two top Trump advisers, Tesla CEO Elon Musk and Robert F. Kennedy Jr., Trump's pick to lead the Health and Human Services Department, expressed their support for Lutnick on social media.

Musk did not immediately respond to further inquiries beyond his posts, and a spokesperson for Kennedy also did not reply to a request for comment.

The Trump transition team has not yet responded to requests for comment.




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