Trump forms new Administration, Congress budget decisions

President Trump has moved quickly to fill the key positions in his new Administration.  On Friday evening he announced that hedge fund leader Scott Bessent was his choice for Treasury Secretary.  Last week the President-elect had several potential candidates for Secretary of Treasury down to Mar-a-Lago for interviews, and markets were hopeful that the final candidate would be someone familiar with financial issues, and there was a broad consensus that Bessent met this standard.  As Tom Lee has been writing, a Thanksgiving rally would be helped by the removal of uncertainty over the Treasury pick and that box is now checked.

Last week also saw some challenges for the new President as his choice to be Attorney General, Rep. Matt Gaetz, had to withdraw his name as it became clear that there were enough Republican Senators who opposed the nomination to defeat his candidacy.  President -elect Trump moved quickly to fill the vacancy and named former Florida AG Pam Bondi to be his AG nominee.  Bondi has been a prosecutor as well as AG for a large state and has been a strong supporter of the former President.  She seems very confirmable for the position.

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