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The Trump team is preparing to announce Bessent as the new Secretary of the Treasury.
Informed sources revealed that usa President-elect Donald Trump's transition team is preparing to announce his choice of Scott Bessent, founder of the macro hedge fund Key Square Group, as the new government's Secretary of Treasury. Anonymous sources indicated that the relevant announcement is expected to be made as early as Friday, and a press release is being prepared. Sixty-two-year-old Bessent served as a key economic advisor during Trump's campaign, promoting his agenda and writing policy speeches for him. Trump has been weighing several candidates, including Marc, an executive from apollo global management.
Trump Considers Warsh to Head Treasury Then the Fed - Report
TD Cowen Maintains Apollo Global Management(APO.US) With Buy Rating, Maintains Target Price $178
TD Cowen Remains a Buy on Apollo Global Management (APO)
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Trump's first term economic advisor stated that the elected president has "plenty of time" to choose the Secretary of the Treasury.
Gary Cohn, former chief economic advisor to Trump, stated that selecting the new government's Secretary of the Treasury is one of the most critical choices for the incoming president, but he does not believe the process will take too long. "Choosing this person, even if it is not the most important decision he has to make, is one of the most important decisions. Therefore, it is important to do it well," Cohn said on Thursday. Cohn pointed out that the two most important economic officials before the start of Trump's first term were both selected after the Thanksgiving holiday in 2016, namely himself and former Treasury Secretary Steven Mnuchin, so there is still "plenty of time" to make the decision. Cohn indicated that Trump has ample time to choose.
Unusual Options Activity: APO, CMG and Others Attract Market Bets, APO V/OI Ratio Reaches 359.1
No candidate for treasury secretary has pleased Trump, and it cannot be ruled out that he will bring out a 'wild card' again.
The selection of the Treasury Secretary by Trump is still ongoing, and the President-elect recently told allies and advisors that none of the candidates interviewed so far have completely reassured him. Hedge fund executive Scott Bessent, Apollo Global Management executive Marc Rowan, and former Federal Reserve Board Governor Kevin Warsh remain among the main competitors. Each of them met with Trump on Wednesday, with Rowan even flying in from Hong Kong, but as of Wednesday night, these discussions have not led Trump to make a decision. Insiders emphasize that the selection could be announced at any time. But it has been so long.
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Express News | Reported November 19, 2024 "Marc Rowan Emerges As A Top Contender To Be Donald Trump's Treasury Secretary" - Financial Times
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