Battle for Treasury: Lutnick vs. Bessent

Howard Lutnick and Scott Bessent are leading contenders for the Treasury Secretary position in Trump's new administration. Lutnick, a longtime Trump ally, and Bessent, an economic advisor and fundraiser for Trump, are being considered amid speculation on more potential candidates for this key role.

Billionaire banker Howard Lutnick and investor Scott Bessent have emerged as front-runners for the pivotal Treasury Secretary role in the upcoming Trump administration, insiders reveal. Both contenders are tightly linked to former President Trump – Lutnick as a friend and transition team co-chair, while Bessent has been an active economic adviser and fundraiser.

Reports suggest that other influential figures, such as John Paulson and Larry Kudlow, have been considered for the position; however, Paulson recently withdrew due to financial commitments. Bessent maintains strong ties with the Trump family and advocates for key economic reforms like tax adjustments and deregulation. Meanwhile, Lutnick leverages years of Wall Street expertise and post-9/11 business rebuilding efforts.

The decision remains with Trump, who has favored loyalists for key roles. As investors and Wall Street closely monitor the situation, betting platforms hint at Bessent potentially taking the lead for the sought-after post. Official announcements will follow once Trump solidifies his cabinet picks, as per spokesperson Karoline Leavitt.

(With inputs from agencies.)