Trump Treasury secretary pick in flux as jockeying slows selection and Musk weighs in
Rivalry has been playing out for days as US President-elect Donald Trump picks his cabinet
The search for Donald Trump’s chief economic policymaker devolved into disarray over the weekend, with contenders tussling for support, aides scrambling to find alternative candidates and the president-elect fuming over the behind-the-scenes chaos that has spilled into public view.
Over the weekend, Billionaire Elon Musk and Key Square Group LP founder Scott Bessent – whom Trump is considering for the Treasury secretary post – spoke after Musk publicly endorsed a separate candidate, Howard Lutnick, as the best pick for the role, according to people familiar with the matter.
Trump has appeared frustrated with the infighting over the powerful cabinet position – which includes overseeing the US$28 trillion Treasuries market and economic sanctions.
Staff have been looking for alternatives, with Robert Lighthizer, Senator William Hagerty, Apollo Global Management Inc Chief Executive Officer Marc Rowan and Kevin Warsh, a former Federal Reserve governor, among the names in the mix, said people familiar with the discussions.
In addition to Treasury, other economic posts including director of the National Economic Council are coveted positions. Peter Navarro, a former economic and trade adviser to Trump, is among those floated in recent days for the NEC role, people said.
The race for Treasury intensified Saturday when Musk, who has become a close adviser and key supporter of Trump, posted on X that Bessent would be the “business as usual choice” while Lutnick, co-chair of Trump’s presidential transition, would “actually enact change” as Treasury secretary.
