Trump's Treasury Transition: The Contenders

Prominent investors Scott Bessent and John Paulson are frontrunners for the U.S. Treasury Secretary role following Donald Trump's election win. Known for their financial expertise and support for Trump, their candidacy signifies possible shifts in economic policy. Other notable figures speculated include Larry Kudlow and Robert Lighthizer.

WEST PALM BEACH, Florida, SAN FRANCISCO, Nov 8 (Reuters) - Prominent investors Scott Bessent and John Paulson have emerged as leading candidates for the U.S. Treasury Secretary role following Donald Trump's election victory, according to inside sources. Both Bessent and Paulson are among several names circulating in media reports recently. The final decision remains with Trump, and it's unclear if others have been ruled out or remain contenders. Representatives for Trump, Bessent, and Paulson declined to comment.

Both Bessent and Paulson, significant campaign financial supporters, have been long considered for such positions. In a January campaign speech, Trump mentioned Paulson as a potential Treasury Secretary, stemming from admiration for his economic strategies. If Paulson is unavailable, Bessent seems a likely choice. Bessent, a seasoned hedge fund investor and Yale lecturer, reportedly values Trump's use of tariffs. Paulson, a billionaire investor, strongly supports tax cuts and deregulation.

Other speculated candidates for the Treasury Secretary role include Larry Kudlow, former trade representative Robert Lighthizer, and Howard Lutnick. Corporate attorney Jay Clayton is also in talks for various roles but is less likely for Treasury Secretary. Meanwhile, JPMorgan Chase CEO Jamie Dimon has no plans to join Trump's administration. Online betting website Polymarket currently lists Bessent as the favored candidate. Trump just announced Susie Wiles as his new White House chief of staff, amidst a series of anticipated staffing decisions.

(With inputs from agencies.)