Photo credit: www.businessinsider.com

Wall Street Influencers Guide Trump’s Economic Appointments

In the wake of his Election Day victory, President-elect Donald Trump is focused on assembling his administration. The financial sector, particularly Wall Street, is keen to have a voice in this process.

The stock market reacted positively to Trump’s success, recording one of its highest single-day gains ever, with U.S. stocks soaring by approximately $1.62 trillion in value. This rally is driven by investor optimism regarding anticipated tax incentives and deregulation measures.

Howard Lutnick, who co-chairs Trump’s transition team and serves as CEO of the investment banking firm Cantor Fitzgerald, is reaching out to influential figures within the financial community for insights on potential cabinet picks.

Often referred to as the “headhunter-in-chief” by the Wall Street Journal, Lutnick is reportedly dedicating a substantial portion of his day to evaluate possible appointments, often balancing his transition responsibilities with his banking duties during the early hours.

While Trump’s transition team has yet to respond to inquiries from Business Insider, several notable Wall Street figures are reportedly lending their expertise and opinions on who should fill critical roles in the forthcoming administration. Notable contributors include Scott Bessent, Gary Cohn, and John Paulson, all of whom are well-respected in the financial landscape and are expected to play a significant role in shaping economic policy going forward.

This consultation with Wall Street titans illustrates a strong alignment between Trump’s economic strategy and the interests of major financial players, further hinting at the administration’s likely focus on policies favoring business and investment growth.

Source
www.businessinsider.com