Trump’s Treasury Challenge: A Pick Who Loves Tariffs and Calms Markets

Published On Nov 19, 2024, 11:52 AM

President-elect Donald J. Trump is facing challenges in selecting the right Treasury secretary who can support his protectionist economic policies while also reassuring the markets. His plans, which could potentially add $15 trillion to the national debt, are concerning to budget experts due to fears of inflation and slowed economic growth. Candidates being considered include billionaire hedge fund manager Scott Bessent, former Federal Reserve governor Kevin Warsh, and Apollo Global Management CEO Marc Rowan. Trump seeks a figure loyal to his agenda while being market-friendly, a balancing act that is proving difficult.

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Stock Forecasts

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The ongoing debates surrounding Trump's economic policies, particularly the potential tariffs and national debt increase, may create a mixed sentiment in the market. However, if a Treasury secretary is chosen who can effectively communicate and stabilize market fears, it could lead to a more optimistic outlook from investors. If markets perceive a drastic shift towards protectionism without credible economic support, it may result in negative market reactions.

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