President-elect Donald Trump is considering Cantor Fitzgerald CEO Howard Lutnick for the position of secretary of Commerce, according to a source familiar with the process. Lutnick, who currently serves as the co-chair of the transition team, has emerged as a potential candidate for the role.
Previously, Lutnick was engaged in a competition with hedge fund manager Scott Bessent over the position of secretary of Treasury. Lutnick had expressed interest in the role by nominating himself for consideration.
If nominated and confirmed, Lutnick would bring a wealth of experience from his leadership role at Cantor Fitzgerald, a financial services firm. His background in finance and business could position him well to oversee the Department of Commerce, which plays a crucial role in promoting economic growth and trade.
The selection of Lutnick for this key cabinet position would signal the Trump administration's focus on business and economic issues. As secretary of Commerce, Lutnick would be responsible for shaping policies related to trade, industry, and economic development.
It remains to be seen how Lutnick's nomination process will unfold and whether he will ultimately be appointed to lead the Department of Commerce. As the transition team continues to evaluate candidates for various cabinet positions, Lutnick's potential selection underscores the importance of experienced business leaders in shaping the administration's economic agenda.
