Howard Lutnick has been helping to run the transition team for Pres. Trump and Punchbowl is now reporting that Trump is set to name him the head of the Commerce Department. Lutnick had been lobbying for Treasury Secretary with Elon Musk supporting him as well.

However, there was some rumblings that Trump did not like the self-promotion for the key post. .

So what is the state of the search for the Treasury post?

• Scott Bessent is being touted but not without criticism: According to sources, he has been targeted for allegedly poor returns at his hedge fund, though his successful bets for George Soros bolster his reputation.
• Alternative Candidates: Trump is expanding the search, considering Kevin Warsh, Marc Rowan, Bill Hagerty, and Robert Lighthizer. However, Warsh has gained traction, with prediction markets and holds a sizeable lead
• Policy Differences: Tariffs and trade policies remain central, with Lutnick aligning closely with Trump’s economic agenda. Crypto is also a major initiative.

Polymarket has Kevin Warsh now at 56% with Scott Bessent at 21%.

This article was written by Greg Michalowski at www.forexlive.com.