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 Big names like Jamie Dimon and John Paulson have withdrawn from consideration.

Read full article

Stock Forecasts

JPMView JPM chart on TradingView

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.

Related News

Jamie Dimon and Donald Trump make it official: They won’t be joining forces

Nov 14, 2024, 4:36 PM

President-elect Donald Trump and JPMorgan Chase CEO Jamie Dimon made it clear Thursday they won’t be working together when Trump moves back into the White House.

JPM

Bankers beware: Elizabeth Warren becomes top Democrat on key Senate banking panel

Nov 13, 2024, 10:43 AM

The elevation of Elizabeth Warren as the top Democrat on a key Senate banking panel could mean some headaches for Wall Street financial giants in 2025

JPM
BAC

Wall Street is bullish about bigger bonuses again

Nov 12, 2024, 9:39 AM

Wall Street is preparing for higher bonuses for the first time since 2021, with underwriters and traders getting the biggest pay boosts for 2024 performance.

JPM
BLK