With his early nominations for key Cabinet positions, Donald Trump has opted to act swiftly. When it comes
to the Treasury Department, he is encountering strong opposition to that approach. Trump has promised  to  impose tariffs, and the Commerce Department will have a pivotal role in carrying the same out. In such scenario, Howard Lutnick becomes the best fit.

As the stock market and interest rates are two areas where the Treasury secretary has enormous influence,  and Trump has always been very sensitive to them. Leaders of  the United States  Treasury Department  act as both an advocate  for the  administration’s  economic policy and a guardian  of the national debt,  which is the foundation of international financial markets. Markets that Trump uses to measure his  economic  success would be thrown into chaos if the Pentagon is headed by a committed disruptor like former Fox  News anchor Pete Hegseth or former Florida Representative Matt Gaetz.

Why Howard Lutnick

Cantor Fitzgerald is an investing business that Howard Lutnick joined in the 1980s after graduating from  college. He is now the chairman and chief executive officer of the firm. After the attacks of September 11, he rose to  prominence as a leading voice in the corporate world. The North Tower of the World Trade Center  was home to Cantor Fitzgerald, and the attack killed hundreds of people working there, including Howard Lutnick’s brother.

On September 11, Howard Lutnick hosts his annual fundraiser, which often attracts famous faces  and  sportsmen, to  benefit causes all across the globe.

Meanwhile, as per reports of this month Howard Lutnick spoke with the Wall Street Journal about his  experience staffing the new government, describing how he had to recruit hundreds of people after
many of  his  colleagues died on 9/11. Although he has assumed a more official role this time around,  Lutnick has contributed millions to the campaigns of his predecessors.

In addition, he has been co-chair of Trump’s presidential transition team since August, fought hedge fund manager Scott Bessent for Treasury secretary after adding his name to the mix. 

Elon Musk puts weight towards Howrad Lutnick

Kyle Bass, an investor, said on X that the markets wanted fund manager Scott Bessent to be appointed as
the Secretary of the Treasury, and that Bessent was more qualified than Lutnick, the Chief Executive Officer
of the Wall Street company Cantor Fitzgerald was.

In response to Bass’s post on X, Musk said, “Bessent is a choice that remains consistent with business as  usual, whereas Lutnick will actually bring about change.” “Business-as-usual is driving America bankrupt,
so we need change one way or another,” Musk stated in his statement. He also invited other people to
share  their thoughts as well.

Would be interesting to hear more people weigh in on this for @realDonaldTrump to consider feedback.

My view fwiw is that Bessent is a business-as-usual choice, whereas @howardlutnick will actually enact change.

Business-as-usual is driving America bankrupt, so we need change… https://t.co/igGLZOJ8wz

— Elon Musk (@elonmusk) November 16, 2024

Why Musk Weighing towards Howard Lutnick matters

As seen lately, Musk has become an increasingly influential figure in Trump circle, and the position of
Treasury secretary is one of the few big positions that has not yet been filled. Despite the fact that Musk
is actively  engaged in the process of Trump’s Cabinet-making, he has spoken very little publicly on
particular  candidates or posts.

As a result, his remarks about Howard Lutnick and Scott Bessent,  who is another prominent contender,  stand out. 

Keep Visiting for updates on final picks regarding Trump Administration

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