U.S. President-elect Donald Trump’s search for a Treasury secretary has expanded after stalling over the weekend, with several new candidates under consideration, according to sources. Among those being evaluated are Marc Rowan, CEO of Apollo Global Management, and former Federal Reserve Governor Kevin Warsh, who brings a strong background in economic policy and inflation management. Other names previously considered include billionaire investor John Paulson, who withdrew due to complex financial obligations, and Scott Bessent, an investor who was also speculated for a White House role in the National Economic Council.
Warsh, 54, who served as a Federal Reserve governor from 2006 to 2011, is known for his hawkish stance on inflation and deficits. He has a background in mergers and acquisitions from his time at Morgan Stanley and served as a White House economic adviser. Rowan, who succeeded Leon Black as CEO of Apollo in 2021, leads one of the world’s largest alternative asset management firms, with expertise in corporate credit and private equity.
The Treasury secretary position is highly significant, overseeing the country’s financial and economic policy, and has attracted attention from global investors and Wall Street. Bessent, a contender for the role, has garnered support from prominent figures, including Republican Senator Lindsey Graham and investor Kyle Bass, who believes Bessent would be the best choice for both markets and citizens. The final decision on the Treasury secretary remains pending as Trump’s team continues its deliberations.
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