The discussion regarding who President-elect Donald Trump should choose as his Treasury Secretary is heating up. Esteemed figures like Elon Musk and Robert F. Kennedy Jr. have thrown their support behind investor Howard Lutnick, adding fuel to a debate that has captured widespread attention. Although Trump has yet to make an official announcement, Lutnick, CEO of Cantor Fitzgerald, and investor Scott Bessent are leading contenders for this crucial role.
‘We Need Change’, Says Musk
Elon Musk, known for his forward-thinking ideas, has expressed his preference for Howard Lutnick, citing a need for transformative change in the U.S. Treasury. Musk argues that Scott Bessent represents a traditional approach that may continue to contribute to America’s financial woes. He emphasized, “Business-as-usual is driving America bankrupt, so we need change one way or another.” Musk encourages both the public and policymakers to contribute their thoughts on this pivotal decision, hoping it will guide Trump toward a well-informed choice.
RFK Jr, Chris Pavlovski Back Lutnick
Joining Musk in support of Lutnick is Robert F. Kennedy Jr., slated to lead the Health and Human Services Department. Kennedy Jr. praised Lutnick’s potential advocacy for Bitcoin, describing it as “the currency of freedom” and a safeguard against inflation for the middle class. Additionally, Chris Pavlovski, CEO of Rumble, endorsed Lutnick by highlighting his pivotal role in taking Rumble public and advocating for free speech.
Scott Bessent’s Odds Rise to 87%
Despite strong endorsements for Lutnick, Scott Bessent’s chances of securing the Treasury Secretary nomination have surged to 87%. Bessent, known for his profound understanding of global markets and economics, along with Lutnick, enjoys respect on Wall Street. Both have publicly supported Trump’s economic policies, particularly his bold tariff strategies. The competition between their allies is intense, and sources suggest that this rivalry could pave the way for a new candidate to emerge.
The Role of Treasury Secretaries
The position of Treasury Secretary is pivotal, regardless of the political landscape. Historically, those in the role have aimed to fortify the US dollar, foster economic growth, and convey stability to financial markets. They ensure a stable tax base, essential for funding federal operations. As Trump prepares to step into office, the Treasury Secretary will be especially vital in executing his promised economic reforms, including potential tariffs on imports.
