President-elect Donald Trump has yet to confirm his pick for Secretary of the Treasury—a crucial role in advising the president on matters of economic and fiscal policy. According to a report, the list of contenders is growing.
Earlier it was reported that either Howard Lutnick, CEO of a prominent Wall Street firm, or hedge fund manager Scott Bessent, could be named for the role. However, The New York Times reported that Trump is reconsidering these options, now adding former Federal Reserve Governor Kevin Warsh and Wall Street billionaire Marc Rowan to the list of possible candidates.
The president-elect has taken significantly longer to choose a candidate for this role than for other key Cabinet positions. According to reports, internal jockeying has complicated the selection process.
Last week, Lutnick made a last-minute push for the position, disrupting the selection process. The internal confusion became public over the weekend. In an unexpected move that reportedly upset some of Trump's allies, Elon Musk publicly endorsed Lutnick on social media.
Musk praised Lutnick for his ability to "actually enact change," while arguing that Bessent, the founder of Key Square Capital Management, represented a more typical "business-as-usual" choice.
"Would be interesting to hear more people weigh in on this for @realDonaldTrump to consider feedback," X owner Musk wrote. "My view [for what it's worth] is that [Scott] Bessent is a business-as-usual choice, whereas [Howard Lutnick] will actually enact change. Business-as-usual is driving America bankrupt, so we need change one way or another."
Among the new names making it to the list, there's Warsh, a former Federal Reserve governor and economic-policy adviser to President George W. Bush. According to The New York Times, Trump has privately expressed admiration for Warsh, describing him as both "smart" and "handsome." Trump had previously considered Warsh for the position of Federal Reserve chairman in 2017 but ultimately chose Jerome H. Powell instead.
Rowan, the CEO and co-founder of Apollo Global Management, has also emerged as a contender for the Treasury Secretary role, according to The New York Times. Trump reportedly expressed strong admiration for Rowan, describing him as highly impressive.
Although Rowan is not actively campaigning for the position, he confirmed his interest after being approached by Trump's team, The Wall Street Journal reported.
