first it was besson, then besson versus lutnick, then lutnick went to commerce, and the list of potentialk, rowen, with besson, lutnick, rowen, with us senator bill hagerty all considered to be in the mix here. what you're looking for again is somebody, lutnick, whose very aggressive on tariffs, and your correspondent did a good job of taking down his positions — versus somebody and the treasury and the economic team who is likely to be friendlier to wall street. that's the kind of makes trump is going through right now. but the situation is very volatile. terry, thank you for your analysis, i'm sure we will talk to you again soon as the story continues. so, how are markets reacting to the latest trump nominations for his administartion? what's been called "the trump bump" seems to be calming, but that is not the case for the world's biggest crypto currency, bitcoin — it has hit new fresh highs of over $94,000 a token. michael field is an equity strategist at morningstar. hello to you, michael. if we talk about bitcoin, as was pointed out, howard lutnick is a real pro crypto man — give us

scott besson would probably be seen as a safer pick. i think in this case, trump does almost definition want to shake this up. he almost doesn't want to acknowledge that there's been a successful economy under the biden administration and the treasury is in a good place right now. first of all also trade is going to be central to this and he's going to need someone who is extremely supportive of his tariff ideas, no matter what direction that goes in. so this is more of a traditional kind of a beauty pageant kind of trump pick whereas these others are more brute force, sort of will to -- you must vote for matt gaetz or you must vote for pete hegseth or something like that there kind of operating in parallel but they are also well- connected. >> in those cases, matt gaetz and pete, these could be the opportunities of a lifetime. if you are scott besson, if you are mark rowan, you are already worth borderline a gazillion dollars. you want the power but you might not want the headache, which is why guys like kevin wehrs, whose names have b

if you read the scott besson piece either wall street journal, you know the day after donald trump was elected we got one of the strongest rallies in the dollar. the third strongest we have seen over the last 10 years. real conviction behind that should the 10 year yield coming back up almost 13 basis points. this is something we saw the week of the election. the 10 year yield rallied from 428 almost two 450. back down to 428 again. now we are getting back in terms of the yield for 43 on the 10-year. -- yield for for free on the 10 year. >> after seeing bitcoin trade as high as i thought it doesn't dollars for bitcoin, we have seen a pullback from that. the last time i looked, down 7/10 of 1%. the little bit of a breather weakness taking off some steam from some of these stocks. marrow holdings -- mara holdings yesterday. most of these stocks up 20% yesterday. continuation of the trump trade rally. the expectation the trump administration will be friendly to crypto. the first administration for president-elect trump, that was not the case. the shift here but the bitcoin and crypto bull

now, we've also heard besson be a really loyal defender of donald trump over the past several years. he's also been advising trump throughout his time on the trail when it came to economic policy. i want you to take a listen to what he said on november 14th about how he thinks donald trump will operate as it relates to economic spending everyone asked me, what do you tell president trump? >> he should do? i don't have to tell donald trump. he should do anything. he's done it. we had a great economy under trump. 1.0. 2016 to just till we hit the wall in covid was one of the greatest periods in american history. i think under donald trump, we could have a golden age for the next four years. >> well, fred, that type of appearance on television is music to donald trump's here. we know that one of his qualifications for many of these roles has been people who can go out and talk about exactly what they are doing and frame donald trump's agenda in the light that he wants it to be framed. and so that's partly why they believe besson is a good choice for this but again, i have to stress a lo

with him, they had really been pushing for besson. they thought that he would be right for this role. one, he is a big business name. a lot of people on wall street like him. they also believe that he should have an easy time getting through his confirmation process. we saw many senators, republican senators. i should say, last night applauding donald trump's choice. so we're moving forward now with this latest pick, one that i know donald trump is, i was told happy to get off his plate and several other cabinet and administration picks trump. >> that is yesterday. who else kind of stands out to you yeah, there were many. >> donna besson's name was one of nine different announcements that donald trump released late last night. it kind of gave me flashbacks to when he was office under his first administration. he had those friday night news dumps, but yes, he named a lot of people. he named his secretary of labor, um, many other health roles. but one name that also stood out to me just for having covered donald trump for several years

what do you make of besson's credentials as treasury secretary? >> so, you know, he's very much a wall street guy right? and that's that's what i thought we were going to get in this position. you know, there's been lots of people talked about, i think, in the trump camp, you've got sort of two types of people. you've got the wall street folks and you've got the more maga. you know, i would put bob lighthizer kind of in the, you know pro tariff kind of camp you know, not appointed yet, but those factions i would say are a little bit in collision. because if you think about what scott besson is going to have to do, he's going to have to he would like to cut the deficit and debt. he's going to have to deal with tariffs and how to implement them. he's going to have to deal with tax cuts. he's going to try and keep the market up. he's got to keep the dollar strong that's a lot. that's a lot on your plate. and some of those things are actually not going to be easy to do together. you know keeping the dollar strong at the same time you're trying to bols

but besson refused to pay, and this came to a head between these two men last week at mar-a-lago, besson and epstein had a heated confrontation over this issue. now, look, as attorneys, we're looking into these allegations what they found, they felt was so problematic that their initial recommendation was that boris epstein should be removed from donald trump's proximity. certainly shouldn't be sitting in on all of these important transition meetings and that he should not be employed by any trump entities going forward. manu. >> so as epstein responded, sara, he did respond. >> he's basically denying everything he said in a statement, i am honored to work for president trump and with his team. these fake claims are false and defamatory and will not distract us from making america great again and a transition spokesperson essentially said, you know, we did the review. no big deal. it's completed. we're all moving ahead together as a team. but there is still a lot of discussion going around in donald trump's various circles about what the fate may ultimately be for boris epstein. >> all r

jonathan: scott besson. let's talk about tariffs.italize alexander hamilton's favorite tool. we will catch up with philip compareale of jp morgan asset management, isaac boltansky who puts numbers on the republican effort in the next 12 months. the tax cuts, all of that. he is talking $7 trillion worth. we will break down what's behind that $7 trillion. we will speak to craig trudell and catch up with michael kushma following comments from chairman powell yesterday. equity futures on the s&p 500 negative by .05% and the bond market. 10-year yields just about unchanged. two-year down to 432. from new york, this is bloomberg. ♪ ♪ ♪ ♪ something has changed within me ♪ ♪ it's time to try defying gravity ♪ ♪ ♪ >> the range of outcomes next year will be wide. trends are moving higher and that's positive. >> the thing you have to respect and the market is the momentum and the optimism surrounding growth for 2025. >> before you jump to what will happen next, you have got to wait. it's really complicated economics to sort this out. >> trump d

number one is scott besson, capital management ceo. number 2 is howard letutnik.esson says the people trump is bringing into his cabinet will get the job done. >> it is not about supporting me. it is about the cabinet donald trump will create. i said in our meeting with he and elon musk with the efficiency commission, who else could do that? both sides love him. >> reporter: another position is who is going to lead the fbi. former congressman and former fbi agent mike rogers is being considered. forces telling fox news he recently met at mar-a-lago with the trump transition team and he is being considered for that position. look at these pics. the election day was two weeks ago and trump has made 20 announcements on who he wants for his future administration. some have been controversial. others have bipartisan support. some democrats aren't liking the pics. listen to what james clyburn said to neil cavuto. >> he is not president yet. are you envisioning another hitler? >> that is exactly what i am saying. neil: you don't think that's hyperbolic? >> what is hyperb

i think it will be scott besson. we will see what happens. that's my prediction. i think all of this, you brought up bitcoin. nvidia was the story of 2,024. probably 23 as well. bitcoin is 2025 and here is why. if you look at donald trump's election he wrote a new playbook how to get elected and it is going to be studied not only in this country but part of the playbook was hugging the crypto world. they become a powerful force. $250 million that we know of in this election cycle, democrats and republicans, those who support crypto. this is not an accident. what is happening since then, a candidate calling for bitcoin to be part of their reserve. you will see more candidates talking about it which means more individuals going i should own some of this because it is going to become more mainstream. i think bitcoin could have a large move in 25. as it becomes more mainstream, the house and pennsylvania has to have crypto on bitcoin be part of their reserve for the pension plan. is this mainstream? neil: it is up 30% since the trump election but i like how you say th

we know the angel might be, scott besson at the treasury department.ut who is going to use -- some of my reporting is that even peter navarro was in the works potentially to be the nec director. maybemaybe he doesn't get that , but he is definitely part of the conversation. jonathan: just about unchanged. coming up, we will catch up with steve chevron of why he still likes equities. -- as president trump promises new tariffs, and stephen cook of cfr as we get closer to a cease-fire deal. trump vows to impose additional tariffs on china, mexico and canada. saying we view tariffs or the threat of tariffs as a way to encourage reassuring instead of near shoring. if this works, this means more capital deepening and growth. either way, we like stocks here. good to see you. what did you make of that move overnight? >> i think the fact that he did it this early, he is getting exactly the response he wanted. he's getting the reaction out of mexico. and again, to the point of what we wrote. the trump administration views the 70's through 90's at this time where

i'm also told lindsey graham personally lobbied on behalf of besson given his ties to south carolina, but he was a name that a lot of people thought would hopefully be easily confirmable. we saw that obviously an issue this week with some of, excuse me, donald trump's other picks particularly matt gaetz. so this was a choice that took donald trump a long time to come to. it's going to be a huge deal in this next administration, but one that his team is happy with. i'm told and believes will be able to get him through the senate process. >> you mentioned terrorists and besson wrote that piece for the wall street journal after the election. he did not mention tariffs in that piece. notably, we'll see if he follows through. alayna treene. thanks so much we do have new reporting tonight from the washington post about how they say president elect trump plans to deal with the special counsel who brought two federal cases against him for attempting to overturn the 2022 election. the headline trump plans to fire jack smith's team and used doj to probe 2020 election. they write, quote, preside

consensual sex over the last 6 years towards us president elect, donald trump says he'll nominate scot besson to serve as the next treasury secretary, the official in charge of implementing his economic agenda. investment is a billionaire hedge fund manager, who has advocated for tax reduction in d regulation and supports attempts plan to impose massive tariffs on imported goods . lawmakers in nicaragua have approved a constitutional reform that hands more power to president. den yellow take the voted unanimously to extend his term by year take more control over the media and military and allow his wife to become co president or take it has ruled the central american country for 17 years. spain has fine budget airlines including wine, air, and easy jag, almost a 180000000 euros for what it called abusive practices. the consumer rights ministry highlighted certain fees for hand luggage and the practice of charging passengers extra to reserve an adjacency for trial. saying the policies violated passengers right now to bucko as a by john, where the deadlock cop 29 climate conference has gone int

is considering pairing former fed governor kevin walsh in the treasury secretary wall with scott bessonas the director of the white house national economic council. let's bring in valerie. what do we know as we continue to wait with bated breath as to the potential appointment of the next treasury secretary? sources are telling bloomberg let nick is out of the race and what we have heard more recently is kevin walsh is favored for the position and he will be moved over to the national economic council. and it is still an influential seat, maybe not as much as the treasury secretary currently. that position was taken by lael brainard. they left ahead -- the fed to work with the biden administration but walsh is a former fed governor and was also rumored to be picked for the fed chair in 2017 but trump was swayed to go for powell instead, a move he has said he regrets and perhaps he could be warmed up to being powell's replacement in 2006 but what we have heard recently is he's been critical of the fed's cut in december, saying they might have declared victory on inflation too early but q

scott besson is a hedge fund manager, followed trump on the campaign trail and he spent two hours and mar-a-lago yesterday meeting with the transition team and he came away feeling very good about his chances. kevin worsham economist at the hoover institute, smart guy, nice guy, his name is still in the mix. he is being pushed by howard lutnick and. the transition chief tried to be treasury secretary, got commerce because they didn't want him in treasury secretary but he is pushing worsham on the theory that worsham will eventually, this according to the bessont people, the hunger games going on here, he is pushing because worsham couldn't take over jay powell's place as fed chair and howard lutnick could slide into treasury which is what he really wants. the guy who headed the transition team picked himself to be treasury secretary. he's at commerce now but that the jockeying and what i am hearing as of right now. dark horses could always emerge at the last minute because this is donald trump. senator bill haggerty's name has been out there. a lot of people like him. he has been a st

look at his economic team, we heard overnight some other announcements on that front, we heard scott bessontary, jamieson greer is going to be head of the trade representative, we have howard let nick at commerce. given the make—up of the personnel, do you think this is a negotiating stance or do you think they are serious about terrace, despite the fact that it might cause that damage you just described? i that it might cause that damage you just described?— you just described? i think they very _ you just described? i think they very serious - you just described? i think they very serious about. you just described? i think - they very serious about terrace on china. any ally or trading partner that sides or favours beijing, ratherthan partner that sides or favours beijing, rather than washington sphere, i think that coming out in a social media post, as he does, with a wild number and some non—macroeconomic language in there is really a negotiation tactic to pressure his first two partners, the ones that he shares the continent with, the ones the americans cannot do without, if they are g

stuart: is this a besson rally that was here today. >> i'm hesitant to put that on there is like alltutions don't want to face uncomfortable questions from the clients when the year in statements or printed and say why don't we have palantir or more tesla that's what i think is going on. stuart: keep fit, thank you for joining us. you have a great thanksgiving. previous 930 the market has opened we expect to seal a lot of green and that's what were seeing the gallup overthrew the points for losers, the rest are winners, plenty of green on the dow 30 s&p 500, modest gain up .4%, the dow is at an all-time high, with about 4,044,600 the nasdaq composite is open with a solid game .75% 140 points higher, could we see the nasdaq at 20000, it looks like it is close. the big tech list of winners amazon, apple, alphabet, meta platforms, microsoft they are all on the upside. not that much but they are up. then we pull up amazon. good morning. >> i'm still taylor. >> they have a plan to rival invidious chips, that's a very big deal. >> at the big moon shock plan, this is decades in the making w

you still have scott besson in the mix, but now you have kevin wash, and you got mark rowan. two hugely successful guys who deeply understand global markets, deep business, small business, and the type of guys you might not necessarily be down with executing trump's extremely inflationary policies. >> robert is cycling around there as well. he is circling, right? before we get too far into the treasury rabbit hole, i think it is interesting about the congress announcement himself. he talked about, this guy will be implementing my trade and tariffs agenda. the tariff these of course is a huge part of president-elect trump's economic policy. he also said -- he was little unclear. he said the u.s. trade representative would also be reporting up to that. so clearly, this may have been a consolation prize. he wanted treasury, and yet, i sort of took that to mean congress may be even more important in this next trump go around than the first time. >> and what's interesting is -- so he did not get treasury secretary, even though that is what elon musk wanted. he is still in latinx c

besson, this is the background of a grown-up and of a serious person.s are good, because there is half a nation to be reassured. and there is nothing lowering about that. that doesn't mean you did not just win. it means you are being a grown- up as you go forward. and perhaps inhibiting yourself from wild animal spirits and being sober. i'm sharing my fantasy life with you here. this is just a huge fantasy, and more of it is in my book. >> welcome i'm always happy to do that when you come around. a certain idea of america. this is chris hayes and lin- manuel miranda. here they were in middle school. >> okay, you're on. >> so, full disclosure, it goes back a ways. but lin-manuel miranda makes his beat debut later tonight. il va. the vaporizing night time, sniffling, sneezing, coughing, best sleep with a cold, medicine. i was out on a delivery, when i came across a snake. fedex presents tall tales of true deliveries our battle was legendary. maybe now my friends will believe me. we did this for one delivery, see what we can do for your business. fedex. if

besson has expressed support for more gradual tariffs.he advised trump on economic policy during the campaign. if confirmed by the senate, besson will face many challenges on day one, including pressure to address the federal debt limit. well, earlier i spoke to ryan patel, a senior fellow at the drucker school of management at claremont graduate university, and i asked him how scott bessent will handle trump's high tariffs without spooking the markets. >> i think there's a couple of things. i think one, you know, some of the rhetoric that has already is to use it as a negotiating tactic. so that's one i think the right to worry is anytime you go with tariffs and you're taxing somebody, we've seen there's never a middle ground to this. i think what bassett wants to do, i think he has a relationship. that bridge with wall street for the last 30 years. i think that helps the market with some kind of ease. but it's not about who you know it's about what you do in these types of conversations. and so for him on day one, he's got to set a real

scott besson reportedly decided not to pay epshteyn an reported $30,000 fee for the promotion of hisound mar-a- lago, according to the washington post. in a call set up between the two men, epshteyn said, he was for assessing epshteyn and that bessent should have paid for his unisys service sooner. boris epshteyn denies any wrongdoing here and i should note that the trump team hasn't actually taken any action against boris epshteyn beyond watching the sophistication and apparently leaking into multiple news outlets. for donald trump himself, it appears his goal is not to distance himself from boris epshteyn, but to remind him who is in charge. as trump told conservative columnist john solomon, "it's a shame, but it happens. but no one working for me in any capacity should be looking to make money." nobody, that is, except the man at the top. in just a second, i will talk to congressman jim hines about the people donald trump is choosing to surround himself with, in a second term, and what he expects from them. that is next. at is next. althce provider about the number one prescribed

. >> these are all the people that i've spoken with recently, scott besson, john paulson, robert lighthizer, howard like nick who you think is best to fill the job of treasury secretary. >> i know them well and i think extremely capable. i think there is many more people that are extremely capable that president trump will likely interview that is not on the list. i would emphasize the snatches of treasury secretary its entire economic team that wants to work together because treasury commerce, ustr and nsc we had a very good team and i don't president trump will do a great job in filling all the slots should they work together effectively. maria: under your leadership in president trump leadership, we saw serious growth in cottony. would you take a position in the next administration the trump administration, would you go back? >> it was the experience of a lifetime and a great honor to work for president trump it was really amazing work that we did together and i focused on the private sector in helping them from the outside in any way that i can. >> helping them from the outside needs gu

became donald trump's pick for treasury secretary, and requested payment from bessent to promote besson's name with trump at around mar-a-lago, besson refused to pay and sources said this kind of led to a heated confrontation last week at mar, a lago. so this is these are the kinds of interactions that these attorneys were investigating. now, epstein denied essentially all of this to us today. here's what he said in a statement. i am honored to work for president trump and with his team. these fake claims are false and defamatory and will not distract us from making america great again. but obviously there was enough concern about these activities to launch this internal investigation really bold. >> so what does it mean for his future in the trump universe well, boris epshteyn is a very controversial figure, as you noted. >> you know, he's known for his brash, combative personality but also for being very loyal to donald trump he sits in on a lot of these transition meetings. but what the legal team that was looking into this concluded initially was that boris behavior was potentially so

people think he's moving towards scott besson and set of lighthizer. would probably be equity negative if you put him of the top role. as treasury secretary -- i go back to the betting markets. for the future president, he looks at them he puts on his truth social and on twitter the fact that rick scott, is maybe piquant it comes to senate majority leader. scott besson is far and away leading the crowd when it comes to the betting market. politico talked about gary cohn, but it does look like there's a lot coalescing around mr. besson. jonathan: equity futures on the s&p 500 just a little softer. let's get an update on stories elsewhere this morning. yahaira: staying on president-elect donald trump, he tapped elon musk and vikram swami to lead a new department of government efficiency. the accurate -- acronym is doge. he announced a new department will slash regulations, cut spending and restructure federal agencies. they will complete their work no later than july 4, 26. the aviation administration halted in haiti by u.s. carriers for 30 days after sp

you know, all the trump is nominated, i prominent investor to be treasury secretary scott besson to spend his career as a wall street finance here. if confirmed the building, it would had a department that overseas economic on tax policies and a statement from says best and will support his plan to stop unfair trade practices . because problem and disapprove of forms would expand the pounds of president dining low take up. the constitutional changes would increase his control of the media and extend the presidential time to 6 is to take his wife comes what's known as co president put together. they'll have control over the legislature, have traditionally electro a bodies and other entities will take is correct on, on defense. and recently it's thousands of public health work as an argentine and have protested against government policies and lack of pay doctors, nations and other medical stuff. most of the capital one is iris and perform my cpr one pillows. they denounced the condition of the public health system and lack of investment. many say that paid below the poverty wages. canada ha

here in a statement of trump says besson to support his plan to stop unfair trade practices . one of the drums nominations do need to be confirmed by the senate. risk of teams in south africa have loaded the camera into i just use gold mine to check on the state of hundreds of miners, underground rights groups and families say police are trying to stop the miners out by refusing to deliver food. welcome. where before it's enough and still sometimes to nobody here other than the informal miners does to enter the deceased mind chopped. these mine rescue experts prepare a camera to find out what's below. nobody else is allowed on the sites, including volunteers from the minus community. he lost lowered food a week ago. please say the miners are refusing to come out. the gold things here are about 2 and a half columbus has the cameras meant to show how the rescue operation should proceed. right, scripts and relative, se progress is too slow and the government still trying to stop the miners out. politicians from the provincial parliament set the mind his rights should be respected

a president's like trump as nominate today, permanent invest, have to be treasury secretary scott besson to spend his career as a wall street finance. you confirm the millionaire with had a department that overseas economic on tax policy. is it a statement from says best and will support his plans to stop unfair trade practices? nicaragua, solomon does approve reforms and expand the pounds of president dining low take up the constitutional changes with increased control of the media and extend the presidential attempt to 6 years will take as wife becomes what's known as co presidents together still have control over the legislation of traditionally electro bodies and other entities ortega has increased to cut down on defense in recent years. accordance and bob way has convicted a senior opposition member and 34 active is for participating in an legal gathering . 20 others were acquitted rights group say the rest of the part of a come down on dissenting voices by the government. i am a task that has this update from the court in iraq. these are some of the people who waited all day off by

donald trump has nominated a prominent investor to be the us treasury secretary, billionaire scott besson suspense. his career as a wall street financier and a statement from so as best sense will support his plan to stop unfair trade practices. all of trumps nominations will need to be confirmed by the senate. thousands of people from latin america are rushing to get into the united states before president elect. donald trump takes office in january. alexandra buyers, reports for these migrants time is running out after weeks of traveling on foot from countries in south and central america, they believe they have to get to the border with united states. now in southern mexico, these families with young children are exhausted. and this freight train will speed up their journey. i'm giving them a chance to rest. but it's also dangerous. many migrants have been killed or severely injured, falling from trains. it's a risk they feel they have to take. given the re election of donald trump as us president, what we want is to reach the board or when it goes will be done for us to be able to get

. >> reporter: scott besson has been one of the top choices from the beginning, seen as a wall street howard let nick the ceo of cantor fitzgerald, says he will enact change. there is some reporting he might be commerce secretary. new york times reporting the cofounder of apollo global management is being interviewed. wall street journal saying board member kevin harsh also being looked at and robert lightkaiser proved himself in the first term negotiating trade deals with china phase i trade deal and a deal with japan among others. the president-elect taking his time to get this right going forward. as it is, a big part of his administration. stuart: a very big part. for the first time, ukraine hit inside russia with long-range missiles. bret baer with me now. why did biden allow the ukrainians to do this? >> i think there was a push by the ukrainians to pushback especially on the 10,000 north korean troops who are aligning close to the border and they are inside russia and the ukrainians wanted to hit that group and those facilities and it would take longer range missiles. it is obv

$14 trillion global etf industry and the s&p 500 gets another record high as traders cheer scott bessons. treasury. investors hoping he prioritizes economic responsibility.

we have a situation where scott besson is the nominee for treasury secretary is considered a little bit terms of the deficit. in particular what we have seen is a very big run-in yields as well as the dollar, that has come to a pause and we have seen the yields backup and differentials backup. that's why the dollar has also managed to backup and lose some ground. >> what is the forecast and how would you look at it? is the trajectory medium to longer term still positive or negative for the u.s. dollar? >> i would say it is still positive. i would be cautious right now and into december for a couple of reasons. number one, we need to see the yield dynamic reappear. we needed to start to push back up again. we need the differentials to widen up again. that can come in terms of the economic backdrop. there is no scare in terms of the inflation numbers today, so the market is still on pace to believe that. for seven years in a row the dollar index has actually fallen into december to in excess of 1 1/2%. i think you have to be fairly careful in terms of this trade. i'm looking at the fixed

and jason besson more in line with foreign policy when using tariffs to negotiate things. little bit more the aggressive what i went to call maga pick but don't necessarily have a preference one way or the other. >> todd: mortgage rates to highest level since june, 6.8%. by an october nearly 4 million homes and 2.9% increase from last year. what should we take away conflicting appears to me data points? >> late september, early oct october, interest rates went down as the fed was cutting rates. this increase, in my opinion, might hurt home sales november to december. there is inflation in the economy. we have seen this and the reports. job reports has not been great and private sector jobs. so i think it is conflicting because they were down in september and early october when a lot of that took place. but hopefully we can get inflation under control with trump policies and interest rates come down to help the housing prices overall. speed when winter is next month and people don't like to look at new homes in the snow. that is what happens. >> my cold is already here. >>

committee, fellow governors and those five regional fed bank presidents, he could appoint, scott besson as his adviser had said, and suggested that they should add a shadow fed chair, someone who would take over for jay powell when his term expires in 2026. and because the markets are a discounting mechanism, pricing in the future, not the past, they would presumably be inclined to listen to that guy, or woman, it might be a woman. rather than listening to jay powell because he ultimately would be the person responsible for setting policy at the federal reserve. so there are things that president trump can do, and a second administration, but sweeping away the fomc would be exceedingly difficult, it would require either some kind of new piece of legislation, a new federal reserve act, or series of amendments to the existing resort federal reserve act, it is tough. >> listen, we don't know what donald trump is going to do, yet. but we do know that he likes cheap money, he wants interest rates to be as low as possible. that is how we borrow and how it spurs growth, but focusing on inflati

once current chair jerome powell into 2026 trump is reportedly considering appointing investors got bessono leave the white house national economic council and would later replace him as treasury secretary. maria: thank you very much, brooke sigman. a lot of plans in place, interesting to have somebody at the treasury knowing that you will take over for the fed when jay powell is up. caroline downey your reaction. >> the spectator described trump's cabinet nomination process as musical chairs in the sweet spot for treasury secretary for him, as the spectator said someone who loves tariffs but will call markets that the compromise siesta look for, he seems like a competent pick but in 2018 hero against protectionism in the wall street journal yet he warned trump could lead us into economic isolationism but he may have changed his tune. as for pam bondi trump all-purpose technologies that haven't asked to grind against the respective departments. that's a good thing. pam bondi is no exception as florida attorney general, where i am from she is battle tested because she fought against human t

between what we have been reporting as the two top contenders, which is howard lutnick, and scott bessonl street guy. musk posting on x that he would be a business as usual choice, and endorsing him who feels he would not change. he's a big personality, and very much on trump's wavelength. he's very into the tariffs. and a more sort of conventional pick, and that will line up with people who have that job and he is getting frustrated with that kind of fighting. now we have other contenders reporting mark rowan, another federal reserve governor as potential additional names on the list, given all the drama that's playing out. >> yes, thank you very much for that. elise, they report several people in trump's circle that would express the astonishment on saturday, that he would push for his choice for this really important economic role, while they had not made up their mind yet. obviously this is a person who has made a lot of money in his life. he's used to deciding how to spend it, right? and he believes his input is valuable. but what is the danger in having it play out on social media?

have apollo global management executive mark roan, tennessee senator bill hagerty, investor scott besson'sthe mix. some of the hold-up treasury nominee who can ease financial markets and also embrace trump's plans to raise tariffs on products coming into the united states. >> donald trump is the most sophisticated leader on economics that i met, and he's also the most open-minded. so the idea of bringing back tariffs, alexander hamilton was the original tariff man, and why did he liked tariffs? two reasons. one, to fund the treasury, two to protect nascent u.s. industries. >> last night sean hannity had an interview with senator hagerty and ask him, hey, if you are offered this treasury gate, would you take it? hagerty gave the answer that politicians typically do when they're put in this position: hey, i'll serve in whatever role i can to keep help delivering for the american people. still in standby mode to see who will lead the department treasury department in trump second term peered back to you. >> neil: that seems to be the grand enchilada. thank you, rich edson, beautiful backgroun

hedge fund manager scott percent will be his -- scott besson would be his nominee for secretary of treasuryd he was a key economic advisor to trump during the campaign. meanwhile, russell wrote has been nominated to head the office of management and budget, a position he held during the first trump administration. since then, vogt has become one of the key architects behind project 2025. other nominations include u.s. representative lauri chavez dar imer of oregon and scott turner was elected as trump's housing secretary nominee. the new york judge overseeing president-elect trump's criminal hush money trial has postponed his plan sentencing which was scheduled for next week. he is allowing time for trump's team to file a motion to dismiss the case entirely after his election victory. prosecutors will then have until december 9 to respond. they have signaled a willingness to wait until trump's second term ends for him to be sentence. in a statement a trump spokesman said all of the sham attacks against president trump are destroyed calling the matter finished. trump was convicted in may of

. >> besson a billionaire hedge fund investor was once a major donor to democrats giving money to hillary clinton. john kerry and barack obama. he's well known on wall street, but not in washington. likely part of why trump tapped him for treasury. the president-elect also dealing with an early blow as one of his first cabinet picks bout out this week. former florida congressman matt gaetz. trump chose for attorney general, withdrew his name from consideration on thursday. a short time later, trump announced his replacement in former florida attorney general pam bondi. she also represented then president trump during his first impeachment trial in 2020. the body pick is yet another from the sunshine state. putting florida at the center of american politics bonnie brings the total to 4 top level. trump picks that hail from florida along with secretary of state nominee marco rubio, chief of staff susie wiles and national security advisor. pick mike waltz. the president-elect looking close to home to fill his administration. president elect trump has now named all 15 executive agency heads t

when you have that tariffs on it, it only increases the price of the engine, which gets to scott besson'snt, but he is going across the board, tough style of politics here, and coming back to what is the goal and when we go back to that china trade deal the first go around, donald trump justified the trade war to try to cut back on relation of the marketplace by china, cut down on ip theft but in all of those stated goals, they never came to fruition, so donald trump is saying he is going to place tariffs on canada and mexico to cut down on migration and drugs . this is playing with the economy at the same time you're trying to play with another issue.>> it is all about the border, coming back to the border. take a listen to eric talking about the purpose of these. >> you want to allow drugs to come through our southern border? we are going to tariff you, china if you are going to allow this stuff to be sold in our country, largely produced in china, we are going to add another 10%, we are going to cost your country, we are going to cost your businesses hunches of billions of dollars.>> t

him, but news may be trump was wavering on lutnick and thinking of other folks for treasury, scott bessonrsh, so lutnick is in for commerce as he gets confirmed, and see who takes treasury. >> sandra: well known on wall street for three decades, stories coming out of 9/11, cantor fitzgerald, the world trade center towers, lost 368 employees. his brother and his best friend died on that day so howard lutnick, commerce secretary, just announced by donald trump moments ago. john? >> john: looking forward to more win 47 announces treasury secretary, still have some others to go, as well. fox news alert now. we are waiting to hear from the deputy pentagon press secretary for a department of defense briefing as today marks 1,000 days since russia's war on ukraine began. tensions escalating ahead of president-elect trump's new term, you ukrainian forces launched so-called atacms rockets deep into russian territory. jennifer griffin at the pentagon. what was ukraine targeting and how is russia reacting? >> john, a senior u.s. official tells fox that overnight ukraine struck military targets in so

he could appoint as scott besson, his adviser, has said, suggested, i might add, a shadow fed chair.uld take over for powell when his term expires in 2026. and because the markets are discounting that and pricing in the future, not the past, they would presumably be inclined to listen to that guy, or women, might be a woman, rather than listen to jay powell because he would ultimately be the person responsible for setting policy at the federal reserve. so there are things that president trump can do in a second administration, but sweeping away this would be exceedingly difficult. it would require either some new piece of legislation, a new federal reserve act, or a series of amendments to the existing. it is tough. tough. >> listen. we don't know what donald trump is going to do yet but we do know he likes cheap money. he wants interest rates to be as low as money because that is how you borrow. focusing on inflation matters. at some point, will we start to focus on the deficit? right. donald trump in his business life was all about racking up debt, but this isn't personal or busine

treasury secretary, hedge fund billionaire john paulson or scott besson, secretary of state ric grenello is a real stalwart trump loyalist. senator marco rubio could be in line for that job, some other names being floated out there for positions in the administration. don't know what yet. doug burgum, vivek ramaswamy, elon musk, who might be the czar in charge of waste fraud and abuse. art rfk jr. >> one particular thing about this campaign as it was a coalition of people you would not initially put, not old neocon era of their republican party so a lot of interesting names to pick but i would also say the trump administration needs to focus on the department of justice, that does seem to be where we have been getting signals the resistance will take place, where the russia collusion hoax was run out of so you need someone to run the department and understand how again to root out some of the corruption and the bad things that have been happening there, so i will be interested to see who he picks there. there have been some names floated from eric schmitt, the senator from missouri who

a lot of speculation about scott besson's of key square group, a lot of speculation about howard let nick, who is running the trump transition right now, also robert lighthizer has been mentioned in the mix for that job. we just don't know. and kelly, we don't know exactly when the trump team is going to make their economic team announcement, but i would expect that what we saw with certain defense and national security side, we will see a bunch of those all at once, sort of national economic council director, treasury secretary, all of those jobs might go within a day or so of each other, as all of that settles out, because the finalist for treasury secretary who doesn't get it might get national economic council director. >> and what about the confirmation process? >> well, the confirmation process is what it is. the president-elect has a signal to senate republicans that he wants to be allowed to use the recess appointment power, under the constitution, which hasn't really been a thing in recent decades because the senate has blocked president's from doing that. all of the leaders

yesterday morning, my nick says, right, wait, scott besson is gay? he is. and married and has children. he does. yesterday when i brought this up, you know, he, if he's confirmed, would be the highest ranking out lgbt person ever to serve to be appointed and confirmed by the united states senate. and i said, you know, i'm kind of conflicted about it. and it's trump who i'm kind of conflicted about this. the media is conflicted because trump tapped a handsome gay billionaire for treasury. he's got bright women, hispanics, african americans, jews and journalists. all the people the media claimed trump was going to put in camps. he put in his cabinet. but some on the fringe with dictator fetishes are still fantasizing about handcuffs. listen, senator elect, when you hear that language, how concerned are you that you will be targeted by president elect trump in his second administration? well, that's that's dictator talk. that's how autocrats talk. they want to make their political opposition an enemy, describe them in those terms. but look, i'm not concerned a

. >> you mentioned terrorists and besson wrote that piece for the wall street journal after the tariffs in that piece. notably, we'll see if he follows through. alayna treene. thanks so much we do have new reporting tonight from the washington post about how they say president elect trump plans to deal with the special counsel who brought two federal cases against him for attempting to overturn the 2022 election. the headline trump plans to fire jack smith's team and used doj to probe 2020 election. they write quote, president-elect donald trump plans to fire the entire team that worked with special counsel jack smith to pursue two federal prosecutions against the former president, including career attorneys. typically protected from political retribution. this, according to two individuals close to trump's transition. trump is also planning to assemble investigative teams within the justice department to hunt for evidence in battleground states that fraud tainted the 2020 election. one of the people said. according to the report. this is how the trump team responded, quote, president t