Contenders Emerge for Trump's Treasury Secretary

The battle for the Secretary of the Treasury position in Donald Trump's administration has intensified between Howard Lutnick, CEO of Cantor Fitzgerald, and Scott Bessent, former executive at George Soros’ hedge fund. Elon Musk and Robert F. Kennedy Jr. have publicly endorsed Lutnick, labeling him as a disruptor who would enact significant change, particularly in relation to Bitcoin, which Lutnick supports heavily. In contrast, Bessent has garnered support from notable figures like investor Kyle Bass, who argues he is more qualified for the role. This rivalry has led to speculation about Trump's potential frustration with the infighting, prompting considerations of alternative candidates. Lutnick's involvement in Trump's transition team has led to discussions about possible ambassadorships for him if not selected for Treasury. The outcome remains uncertain as Trump is set to meet with both candidates this week for further discussions.