President-elect Donald Trump weighs options for Treasury Secretary, with former Fed Governor Kevin Warsh, Apollo CEO Marc Rowan, and Senator Bill Hagerty among top contenders. Key figures like Howard Lutnick and Scott Bessent are also in the mix, with meetings planned at Mar-a-Lago.
WASHINGTON, Nov 17 (Reuters) - President-elect Donald Trump added former Federal Reserve Governor Kevin Warsh and billionaire Marc Rowan to the list of candidates to become his Treasury secretary, the New York Times and Wall Street Journal reported on Sunday.
A former investment banker, Warsh, 54, served on the Federal Reserve Board from 2006 to 2011. He was seen as both a fiscal hawk and a proponent of higher savings rates.
Rowan, 62, co-founded investment manager Apollo Global Management (APO.N), opens new tab and became the firm’s CEO in 2021.
Republican U.S. Senator Bill Hagerty of Tennessee, 65, who Trump met at Mar-a-Lago last week, is also in the running for the role, according to the Wall Street Journal.
Trump has not announced his nominee for the role, but Howard Lutnick, the CEO of Cantor Fitzgerald, and investor Scott Bessent have been considered as top candidates for the job.
The Republican president-elect has begun to have second thoughts about Lutnick and Bessent, the New York Times said, and was expected to invite candidates to meet with him in Florida at his Mar-a-Lago club this week.
Lutnick co-chaired Trump’s transition effort. A New Yorker like Trump, he has uniformly praised the president-elect’s economic policies, including his backing of tariffs.
Bessent, a key economic adviser to Trump, is a longtime hedge fund investor who taught at Yale University for several years and has a warm relationship with the president-elect.
Billionaire Elon Musk and Robert F. Kennedy Jr. [USN:S0N3MK05Y TEXT:“came out in favor of Lutnick”] on Saturday, making public the internal jockeying on the decision.
The Trump transition team did not immediately respond to a request for comment.
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The United States announced the launch of a critical minerals initiative with Australia, India and Japan on Tuesday as part of efforts to counter China, although ties between the partners have been strained by trade frictions and other disagreements.
China's Ministry of Commerce (MOFCOM) announced Monday it will extend anti-dumping duties on specific stainless steel imports from the European Union, United Kingdom, South Korea, and Indonesia for an additional five years starting Tuesday, 1 July.
A U.S. federal judge on Tuesday rejected Huawei Technologies Co Ltd's request to dismiss the majority of charges in a sweeping indictment, allowing the Chinese telecoms giant to face trial over allegations of trade secret theft, bank fraud, and sanctions violations.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
The Asian Infrastructure Investment Bank (AIIB) and the Arab Fund have signed a memorandum of understanding to formalize a strategic partnership focused on advancing sustainable infrastructure in shared priority regions.
Tesla’s new car registrations plunged sharply in June, dropping 64.4% in Sweden and 61.6% in Denmark compared to last year, highlighting growing challenges for the U.S. electric vehicle maker in these Nordic markets.
More than $2.5 billion in new deals and commitments between the United States and African partners were announced at the 17th summit, underscoring the U.S. commitment to prioritizing trade over aid by engaging Africans as equal partners in investment-driven growth, the State Department announced.
Gold prices edged higher on Monday after slipping to their lowest level in more than a month, supported by a weakening U.S. dollar and easing geopolitical tensions that have tempered safe-haven demand.
The French Riviera town of Cannes will restrict large cruise ships from docking starting from January 2026, as part of new efforts to manage over tourism and protect local infrastructure.
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