The public (and sometimes messy) race to become Trump’s Treasury secretary
Published On Nov 15, 2024, 12:09 PM
The article discusses the ongoing competition to become Donald Trump's next Treasury Secretary, highlighting the public and private efforts of several candidates including Scott Bessent and Howard Lutnick. Scott Bessent, CEO of Key Square Capital, is considered a frontrunner and has been actively lobbying for the position through media appearances and op-eds praising Trump. Lutnick, CEO of Cantor Fitzgerald, initially focused on managing the transition team but is now also vying for the role. Other potential candidates include Robert Lighthizer and Gary Cohn. This selection process is particularly significant as it may impact market sentiment. Big names like Jamie Dimon and John Paulson have withdrawn from consideration.
Stock Forecasts
JPM
Positive
Given the current political landscape and Trump's prior announcements, Scott Bessent's public support for Trump paired with his financial contributions suggests he could take a favorable role if chosen as Treasury Secretary. His economic strategies could lead to strengthened market confidence, particularly in sectors aligned with his beliefs.
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