How Howard Lutnick lost his epic battle for Trump’s Treasury and a lot more
Published On Nov 24, 2024, 8:00 AM
Howard Lutnick, CEO of Cantor Fitzgerald and a nominee for Commerce Secretary, has faced backlash after a failed campaign to become Treasury Secretary while undermining Scott Bessent, who was ultimately appointed to the position by President-elect Trump. Lutnick’s aggressive attempts to secure the Treasury role and discredit Bessent have reportedly damaged his reputation within the Trump circle and potentially hindered his influence in the administration, despite his longstanding friendship with Trump. Lutnick's past affiliations and political donations have also brought scrutiny to his role in a Trump-led government.
Stock Forecasts
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The conflict surrounding Lutnick and Bessent, alongside Lutnick's diminished standing within the Trump administration, may negatively impact Cantor Fitzgerald's business environment and investor sentiment. Lutnick's public persona has shifted from a prominent Trump ally to a figure seen as contentious within key political circles. Investors may be wary of this instability and how it would affect Cantor Fitzgerald's operations and long-term prospects.