Howard Lutnick is now reportedly anticipated to be nominated by President-elect Trump to serve as the secretary of Commerce.
Lutnick is a prominent advocate for cryptocurrencies and has been a longtime associate of Trump.
Lutnick is the CEO and chair of Cantor Fitzgerald, and he is presently the co-chair of the Trump transition.
He has publicly endorsed Trump’s tariff proposals, which will be a significant component of his role as Commerce’s leader.
Scott Bessent, who served as an economic adviser to the Trump campaign, was also considered a front-runner for the position, in addition to the CEO.
Linda McMahon was also defeated by Lutnick for the position of Commerce’s leader.
She was previously the head of the Small Business Administration during Trump’s first term and was considered a front-runner for the position of co-chair of his transition team.
The recent public outcry regarding the individual who will assume the critical economic position has prompted Trump to broaden his search for a Treasury leader.
This weekend, billionaire tech tycoon Elon Musk expressed his endorsement of Lutnick over Bessent.
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