If selected, Lutnick would not become bank director, and jostling may remain for the position.
A source with knowledge of the conversations told the Washington Examiner that Trump made the decision on Tuesday. Gina Raimondo, 63, will flourish Lutnick, who has been in the position since President Joe Biden took office in 2021.
Lutnick would be in charge of implementing Trump’s tax plan, setting up the tasks on imports, and setting up the exceptions that should be made. Lutnick has been a outspoken supporter of Trump’s plan despite the opposition from Wall Street.
Linda McMahon, the original Small Business Administration Administrator, was the leading candidate for the position in the field of organization, according to forecast industry and reporting.
Lutnick now co-chairs the political transition team while also serving as the chairman and CEO of Cantor Fitzgerald, a financial services company. After graduating from college, he immediately rose up the ranks to become the company’s president and CEO in 1991. Five years later, he was appointed committee chairman.
He spoke at the president-elect’s New York march at Madison Square Garden. He is a close personal assistant to Trump.
Lutnick apparently made a last-minute pay to become the treasurer’s secretary, which he had apparently been targeting. Recently, there has been more of a struggle for the exclusive Cabinet position.
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The industry has been widened to include former Federal Reserve government Kevin Warsh and Apollo Global Management’s Marc Rowan, but it initially appeared that Lutnick and hedge fund manager Scott Bessent were the two most likely candidates for the position.
Projection areas indicate Warsh, who served at the Fed from 2006 to 2011, has the advantage. Additionally, according to reports, Warsh is apparently on the shortlist to substitute Jerome Powell, the Fed’s chairman, who was initially nominated by Trump and later by Biden.
