Scoop: New twist in Trump's Treasury race
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President-elect Trump is looking more seriously at Sen. Bill Hagerty (R-Tenn.) for Treasury secretary — giving Trump three serious options for one of the few roles where he's taking his time, transition sources tell me.
- Hagerty, a former private-equity investor who was Trump's ambassador to Japan, is one of three apparent finalists, along with former Fed governor Kevin Warsh and Apollo CEO Marc Rowan.
Why it matters: Hagerty, 65, has credibility with Wall Street leaders, the markets, foreign leaders and Congress. And he owes his political career to Trump.
- "Respected, loyal and great on TV — the total Trump package," a top Republican source said.
State of play: I'm told Trump enjoyed spending time with Hagerty at Mar-a-Lago this week. The senator was with Trump and Elon Musk in South Texas Tuesday as SpaceX launched a Starship rocket.
- Trump will meet Warsh and Rowan at Mar-a-Lago this week.
Zoom out: Howard Lutnick, Trump's transition co-chair, wanted Treasury but yesterday was named Commerce Secretary.
- Scott Bessent, a hedge-fund manager who was another finalist for Treasury, looks to be in a derby for the consolation prize of director of Trump's National Economic Council.
- Another top candidate is Robert Lighthizer, who was U.S. trade representative in Trump's first term.
Go deeper: Trump builds his "central casting" Cabinet
