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Trump Considers Kudlow for Treasury or NEC Amid Lutnick-Bessent Rivalry

Nov 15, 2024, 04:49 PM

Billionaire banker Howard Lutnick, CEO of Cantor Fitzgerald and longtime friend of President-elect Donald Trump, has emerged as a serious contender for Treasury Secretary, alongside investor Scott Bessent. Bessent, founder of Key Square Capital Management and a protégé of hedge fund tycoon George Soros, is expected to meet with Trump in Florida on Friday. Soros previously invested $2 billion in Bessent's firm as its anchor investor. The race for the high-profile Treasury position is intensifying, with reports of a 'cold war' between Lutnick and Bessent causing frustration within Trump's circle. As a result, Trump is considering Fox Business Network host Larry Kudlow, who previously served as director of the National Economic Council and met with Trump at Mar-a-Lago. Kudlow's stock has risen amid the rivalry, and he is being considered for Treasury Secretary or to lead the NEC again.