Donald Trump broadens hunt for top Treasury job after jostling became messy

Among the people now being discussed by Trump’s advisers for the role are Kevin Warsh, a former Federal Reserve board governor, and asset management company chief Marc Rowan.

Kevin Warsh, former governor of the US Federal Reserve board, is being considered as Donald Trump’s Treasury secretary. Picture: Bloomberg.

Donald Trump’s advisers are weighing a new slate of contenders for Treasury secretary amid a messy fight over the crucial economic position that has irritated the president-elect and his team in recent days.

Among the people now being discussed by Trump’s advisers for the role, according to people familiar with the matter: Kevin Warsh, an economic-policy adviser to President George W. Bush who later served on the Federal Reserve’s board of governors, and Apollo Global Management Chief Executive Marc Rowan.

Trump aides have been in touch with Rowan to gauge his interest and he has affirmed it, The Wall Street Journal previously reported. Rowan has yet to speak to Trump about the job and isn’t actively lobbying to become Treasury secretary, according to people familiar with the matter. Warsh, who economic advisers to Trump earlier this year floated as a possible candidate for Fed chairman, has been discussed by people close to the president-elect as a candidate to lead Treasury, the people said.

Warsh is a member of Trump’s transition team, where he has focused on economic policy and personnel. He didn’t respond to requests for comment.

“President-Elect Trump is making decisions on who will serve in his second Administration,” Trump transition spokeswoman Karoline Leavitt said in a statement. “Those decisions will be announced when they are made.”

Some people close to Trump have also advocated for Republican Sen. Bill Hagerty of Tennessee to be considered for Treasury.

Hagerty met with Trump at Mar-a-Lago several days ago, according to a person familiar with the meeting. It is unclear if Hagerty discussed Treasury with Trump but he has privately told allies he feels like he could be a good fit to lead the department, this person noted. Hagerty had been under consideration for several prominent roles in the administration, including secretary of state. Trump selected Sen. Marco Rubio (R., Fla.) for State instead.

Hagerty was an economic adviser and White House fellow to former President George H.W. Bush. He later had a stint in business, including running his own private-equity firm. Hagerty’s office didn’t respond to a request for comment.

The longtime front-runners for Treasury – investor Scott Bessent and billionaire businessman Howard Lutnick – are still in contention for the job, though they both have also been discussed for other roles in the administration. Some people close to the president-elect said Lutnick’s chances had dimmed amid an aggressive campaign by the Cantor Fitzgerald chief executive and his allies to land the coveted position that kicked into high gear over the weekend.

Lutnick and his allies ramped up their private advocacy for Treasury as some people close to Trump got word that the president-elect was seriously considering selecting Bessent for the role.

Lutnick’s allies from the business community, including billionaire Elon Musk, have publicly advocated for the Cantor Fitzgerald CEO to become Treasury secretary. But the aggressive lobbying appears to have led Lutnick to fall off as a favourite for the role, some of the people said.

Throughout the weekend, Trump continued to announce his selections for other senior roles. On Saturday, he said he chose Liberty Energy Chief Executive Chris Wright to lead the Energy Department, and on Sunday he said he picked Brendan Carr, the top Republican on the Federal Communications Commission, to be the agency’s chairman.

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