Trump chooses TV doctor Mehmet Oz to lead Centers for Medicare and Medicaid Services

Published On Nov 19, 2024, 4:38 PM

President-elect Donald Trump has nominated Dr. Mehmet Oz, a well-known television personality and heart surgeon, to lead the Centers for Medicare and Medicaid Services (CMS). Oz's role would include overseeing Medicaid, Medicare, and the Affordable Care Act. Trump stated that Oz will prioritize disease prevention and work to minimize waste and fraud within the agency, which manages significant portions of U.S. healthcare spending. Additionally, Trump selected Howard Lutnick, a Wall Street executive, for the Commerce Department, emphasizing his plans for trade tariffs to protect American workers.

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Stock Forecasts

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Positive

Dr. Oz's appointment may influence healthcare policy significantly, especially in the direction of preventive care. This could potentially bolster sectors focused on healthcare technology and preventative medicine, opening investment avenues in health-focused ETFs and stocks.

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Negative

Howard Lutnick's selection for Commerce could lead to increased tariffs and trade protections. This may negatively impact sectors reliant on imports or those that could be hurt by trade barriers, possibly affecting stock prices in those areas.

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