Elon Musk, a supporter of Donald Trump, has an interesting idea for who should lead the U. S. economy. He suggested Howard Lutnick, who runs the investment bank Cantor Fitzgerald, should be the next Treasury secretary. Musk thinks Lutnick will challenge the usual business approach on Wall Street, which Musk believes is driving America into debt. He advised his followers to share their thoughts with Trump. Both Lutnick and another candidate, Scott Bessent, have backed Trump's economic policies, including his plan to use high tariffs. Lutnick is known for his strong personality, unlike Bessent, who has a more typical Treasury secretary demeanor. Some Wall Street leaders, like Kyle Bass, don't think Lutnick is the right choice. They prefer Bessent because he understands markets and economics better. However, market analysts think Trump will pursue his tariff plans no matter who is chosen. If Trump follows through, the next Treasury secretary may face another inflation crisis. Both candidates have questioned economists who predict Trump's policies will increase inflation. The decision-making process for this important role has been intense, with candidates campaigning behind the scenes. Trump even considered other candidates, like Larry Kudlow, for the job. The Treasury secretary has a crucial role in advising the president on economic matters and managing the nation's finances.

Elon Musk's Wall Street Shake-up Suggestion

Actions