Billionaire tech mogul Elon Musk will choose Cantor Fitzgerald chairman and CEO, rather than Key Square Group founder Scott Bessent, to be Trump's next Treasury secretary. I supported Howard Lutnick. post on social platform X on Saturday.
“In my opinion, Bessent is the traditional choice, but @howardlutnick will actually make a difference. Business as usual is driving America into bankruptcy, so some form of change is needed,” Musk said. wrote in the post.
Musk's post was appointed and appointed by President-elect Trump in his second administration to lead alongside entrepreneur Vivek Ramaswamy on the newly created Department of Government Efficiency's (DOGE) Non-Government Advisory Council. This was carried out while Mr. Musk was being given the role of Dismantle government bureaucracy, reduce excessive regulation, reduce wasteful spending, and reorganize federal agencies. ” President Trump said in a statement:.
Whoever President Trump chooses as Treasury secretary will play a leading role in strengthening the 2017 tax law, imposing aggressive new tariffs and ushering in a major shift in economic policy.
Mr. Bessent has publicly expressed support for President Trump's deregulation and energy independence plans. The president-elect called Bessent “one of the brightest people on Wall Street” at a rally in August. Trump brought the investor on stage at the event to express confidence in Trump's re-election chances.
Some of President Trump's advisers have reportedly criticized Mr. Bessent, suggesting that he is not sufficiently supportive of the president-elect's tariff policies. According to Politico.
In contrast to Mr. Musk, Sen. Lindsey Graham (RS.C.) supported Mr. Bessent, saying the former economic adviser to the Trump campaign would be an “excellent” person.
“I think he's going to be outstanding. He's from South Carolina, I know him well, he's a very talented guy,” Graham said.He spoke to news media Semafor.on Thursday.
