Author：aronDate：2024-11-7
Here are the new candidates for key positions in Trump's second administration:
"Biggest winner" Musk
Trump had previously promised that if he wins in November, Musk would head a new "Government Efficiency Commission." The group led by Musk will make recommendations to Trump on cutting federal spending.
Musk responded that if Trump wins this year's US presidential election, he could help cut the federal budget by at least $2 trillion, thereby fundamentally reshaping government spending. But Musk did not go into detail about how to achieve the above-scale spending cuts.
Some analysts pointed out that if Musk takes on more government work, this may reduce his working time at Tesla, and what it means for the electric car maker remains to be seen.
Federal Reserve
Powell's term as chairman will end in May 2026, and Trump has said he will not reappoint Powell, and has often criticized Powell before. He recently said in August that Powell was "sometimes too early and sometimes too late" in policy decisions. So who will be the successor?
According to multiple media reports, the most frequently mentioned name for the Fed chairman is Kevin Hassett, who served as chairman of the White House Council of Economic Advisers during Trump's first term.
Several sources close to the Trump campaign, including Scott Bessent, Trump's senior economic adviser and CEO of hedge fund Key Square Group, said Hassett could be Trump's final choice for chairman.
In addition, Kevin Warsh, a former Fed governor and current fellow at Stanford University's Hoover Institution, and Arthur Laffer, President Ronald Reagan's economic adviser, are also seen as potential candidates for the position.
Trump previously said he believed the president should have a "say" on the Fed's interest rate policy and suggested that policymakers were motivated by political reasons when they cut rates by 0.5 percentage points in September. Although he later clarified that he was not ordering the Fed to do anything, he should have the right to comment on the direction of interest rates.
It is understood that the president's nomination for the Fed chairman must be approved by the Senate. With Republicans controlling the Senate, there should be no obstacles to Trump's selection.
According to calculations and reports by many US media, the Republican Party has now occupied 52 seats in the Senate, which has only 100 seats, and has controlled the Senate. In addition, it has also gained more seats in the House of Representatives. However, no party currently has more than half of the seats in the House of Representatives.
Treasury Department
The candidates for Treasury Secretary of "Trump 2.0" will include Scott Bessant and John Paulson, a US hedge fund billionaire and Trump's "financial master". They both support Trump's plan to impose tariffs on imported products, but both regard it as an important negotiating tool. That is to say, the role of this tool may be weakened if other countries make concessions.
Bessant previously said that he supports a strong dollar, which is a long-term policy of the United States, and said that Trump "supports the dollar as a reserve currency." He also previewed Trump's "economic script" for his second term on Wednesday and listed plans to break regulatory and energy dominance.
He also said that the top priority would be to "stop" the Inflation Reduction Act, especially the provision of "providing a $7,500 tax credit for electric vehicles."
Paulson is a long-term donor to Trump's presidential campaign. He previously said he would work with Tesla CEO Musk to develop measures to significantly cut federal spending.
The staunch Trump supporter said his first priority is to extend Trump's expiring 2017 tax cuts, followed by "working with Musk to cut federal spending," especially eliminating subsidies for green energy in the Inflation Reduction Act under the Biden administration.
"All these tax subsidies for inefficient and uneconomic energy such as solar and wind should be eliminated, which will reduce (fiscal) spending," he said.
Therefore, new energy is the future trend
↓Next [ New energy buses have many advantages and features ]
