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☆ How Trump's rich Cabinet members could save millions thanks to a little-known tax break
▼ + stars: | 2024-11-19 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

AdvertisementTwo of the reported candidates for Treasury Secretary made their fortunes on Wall Street, including billionaire Apollo CEO Marc Rowan. Eligible federal appointees can defer capital gains taxes indefinitely when they sell stock or other assets in order to avoid a conflict of interest. As a top earner in New York, they would normally have to pay more than $3 million in capital gains taxes. The sum that would have been spent on capital gains taxes is now free to compound and grow. The IRS allows investors to defer capital gains taxes in other scenarios that are deemed outside their control.

Persons: Donald Trump's, Trump, Howard Lutnick, Cantor Fitzgerald, Major Trump, Chris Wright, Marc Rowan, Bush, Goldman Sachs, Henry Paulson, George H.W, Bob Willens, You've, Scott Bessent, frontrunners, eyeing Rowan, Kevin Warsh, Morgan Stanley, Warsh, Jane Lauder, Rowan, Ed Renn of Withersworldwide, Penny Pritzker, Mark Parthemer, Willens, Renn Organizations: Commerce, of Energy, Treasury, Executives, Columbia Business School, Federal Reserve, Government, IRS Locations: George H.W . Bush, New York

☆ Federal jobs are known for their stability. Now they could be in jeopardy as Musk pushes for deep spending cuts.
▼ + stars: | 2024-11-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Tech: We're in the middle of a white-collar recession, and tech workers are shouldering much of it . We're in the middle of a white-collar recession, and tech workers . AdvertisementElon Musk's government efficiency commission has been tasked with cutting government spending, raising questions about the future of millions of jobs. Tech jobs are mired in a recession. White collar hiring is in a huge slump, and tech workers are some of the hardest hit .

Persons: Trump hasn't, Tesla, Chelsea Jia Feng, Madison Hoff, Vivek Ramaswamy, Musk, Alice Tecotzky, John L, Dorman, Allison Robbert, Scott Bessent, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Kevin Warsh, Trump, Goldman Sachs, Morgan Stanley, Natalie Ammari, Uber, Verily, —, Rebecca Zisser, Elon Musk, Bluesky —, Jake Paul's, Netflix's Jake Paul, Mike Tyson, wasn't, Donald Trump's, Satya Nadella, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Google, Trump, Tech, Getty, Elon, Department of Education, Veterans Affairs, Department of Government, Social Security, Medicare, Twitter, Getty Government, Allison, Treasury, BCA Research, Goldman, BI, LinkedIn, Microsoft, China Economic, Security, Walmart Locations: Washington , DC, China, Brazilian, New York, Chicago, London

☆ Trump's Treasury Secretary: The best commentary about who the president-elect should nominate
▼ + stars: | 2024-11-18 | by ( Chris Johnston | ) www.businessinsider.com time to read: +6 min

After announcing a swathe of names for his Cabinet, president-elect Donald Trump appears to be conducting auditions for his Treasury Secretary. AdvertisementHere's some of the best commentary we've seen about the race to be the next Treasury Secretary. Blowups somewhere are inevitable, and a Treasury secretary needs the experience to deal with the fallout in a way that reassures markets. There could now be a contest for Treasury Secretary where … the no1 job is reassuring the markets. In return he might be rewarded with the job of treasury secretary.

Persons: Donald Trump, Scott Bessent, Howard Lutnick, Marc Rowan, Kevin Warsh, Cantor Fitzgerald, Trump, Rowan, Apollo, Jay Powell, Warsh, Powell, hasn't, Kyle Bass, Mike Allen, You've, Ian Bremmer, Marco Rubio, Mike Waltz, Biden, Mr Lutnick, Mr Trump, … Mr Lutnick, …, Mr Lutnick's, John Thune, Jeff Stein Organizations: Key Square Capital Management, Apollo Global Management, Federal Reserve, New York Times, The Times, Times, Hayman Capital Management, X, Trump's, Treasury, CNBC, Trump, Fed, White, National Economic Council, Eurasia Group, Bloomberg, The, The Washington Post Locations: X U.S, Eurasia, Washington, United States, The Washington

☆ Meet the top 4 candidates Trump is considering for Secretary of the Treasury
▼ + stars: | 2024-11-18 | by ( Matthew Loh | ) www.businessinsider.com time to read: +8 min

AdvertisementLast week, Trump was said to be deciding between two leading candidates for Treasury Secretary. Here are the top picks Trump is reportedly now considering for Secretary of the Treasury. Kevin WarshKevin Warsh, center, is rising as one of the candidates for Trump's Treasury Secretary. AdvertisementMarc RowanMarc Rowan isn't said to be actively lobbying for Treasury Secretary, but his aides have reportedly been in touch with the Trump administration. Drew Angerer/Getty ImagesBessent, 62, was one of the original frontrunners for Trump's Treasury Secretary.

Persons: Trump, Kevin Warsh, Marc Rowan, Donald Trump, Robert F, Kennedy Jr, Florida Sen, Marco Rubio, Janet Yellen, he's, it's, Kevin Warsh Kevin Warsh, Tasos Katopodis, Warsh, Morgan Stanley, George W . Bush, Axios, Jerome Powell, Marc Rowan Marc Rowan isn't, PETER, Getty Images Rowan, Rowan, Rowan isn't, Howard Lutnick Howard Lutnick, ANGELA WEISS, Cantor Fitzgerald, Lutnick, Linda McMahon, He's, Vance, Elon Musk, Musk, Scott Bessent Scott Bessent, Drew Angerer, Bessent, George Soros, Soros, Breitbart, Kamala Harris, Joe Biden's, MAGA Organizations: Treasury, White, Department of Health, Human Services, State Department, Trump, Street, New York Times, Trump's, Federal Reserve Board, Getty Images, Apollo Global Management, Apollo, Times, Bloomberg, Madison, Garden, AFP Lutnick, WWE, Hamptons, Apple, World Trade, Key, Capital Management, Reuters Locations: Florida, America, Lago

Rowan and Warsh shake up Treasury raceFew of the unfilled positions in Donald Trump’s cabinet are as important as Treasury secretary. Allies of two candidates, Howard Lutnick, the transition co-chair, and Scott Bessent, a top economic adviser, publicly stumped for them this weekend. Musk threw his support behind Lutnick over the weekend, calling Bessent “business as usual,” an especially cutting criticism in the Trump camp. Loeb backed Bessent, arguing that choosing Lutnick might rattle investors, including in the $28 trillion market for Treasury bonds and notes. That said, Bessent is also being floated for positions such as chair of the White House’s National Economic Council.

Persons: Rowan, Warsh, Donald Trump’s, cloudier, Howard Lutnick, Scott Bessent, Marc Rowan, Kevin Warsh, Elon Musk, Dan Loeb, Musk, Bessent, Trump, Loeb Organizations: Times, Apollo Global Management, Fed, Treasury, White, Economic Council

☆ The battle over Trump's Treasury secretary is adding to the market's problems
▼ + stars: | 2024-11-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

President-elect Donald Trump's flurry of announcements regarding Cabinet nominees has left investors with one unexpected headache: a suddenly cloudy picture of who will take the all-important position of Treasury secretary. One somewhat new name to emerge into the Treasury conversation is former Fed governor Kevin Warsh. However, the Wall Street Journal reported Sunday that Warsh also has emerged as potential Treasury contender. Yields took another leg higher on Monday amid the Treasury uncertainty. However, Fundstrat research chief Tom Lee said that once the Treasury nominee issue is settled, that should restore some market confidence.

Persons: Donald Trump's, Trump, Scott Bessent, Sen, Bill Haggerty, Howard Lutnick, Elon Musk, Powell, Stocks, Kevin Warsh, Jerome Powell, Warsh, Evercore, Tom Lee, Lee Organizations: Key Square Group, Federal Reserve, Treasury, Trump Trade, Trump, Wall Street

Fed Chair Jay Powell said Thursday that he would not resign if president-elect Donald Trump asked him to. Asked whether he would step down amid chatter that Trump's advisors had suggested he do so, Powell replied, "No." Trump himself nominated Powell as Federal Reserve chairman in 2017 in his first administration. Powell made the comments during his regularly scheduled remarks following the release of the Federal Open Market Committee's latest statement on interest rate policy. Representatives for Trump did not immediately respond to a request for comment.

Persons: Jay Powell, Donald Trump, Powell, Trump, readying, ” Trump, Scott Bessent, Kevin Warsh Organizations: Federal, Trump, Bloomberg, Chicago Economic, Reuters, CNN, NBC News, CNBC

☆ Former Fed Governor Kevin Warsh: The Fed doesn't seem to have a serious theory of inflation
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Fed Governor Kevin Warsh: The Fed doesn't seem to have a serious theory of inflationKevin Warsh, Hoover Institution distinguished visiting fellow and former Federal Reserve Governor, joins 'Squawk Box' to discuss the Fed's inflation fight, state of the economy, rate path outlook, and more.

Persons: Kevin Warsh Organizations: Former, Hoover Institution, Federal Reserve

☆ The Fed is going to make inflation worse with rate-cut promises, former central banker says
▼ + stars: | 2024-03-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed could be making inflation even hotter with its promises of rate cuts. That's according to former Fed Governor Kevin Warsh, who says the central bank is "goosing" the economy. AdvertisementThe Federal Reserve could be mucking up the economy with its promises that it will cut interest rates later this year, according to former central banker Kevin Warsh. Related stories"The Treasury Department, the Federal Reserve … are goosing this economy," Warsh said. "A Fed promising to cut rates even as asset prices are melting up."

Persons: Kevin Warsh, —, Warsh Organizations: Service, CNBC, Federal Reserve, Fed, Treasury Department, Federal

☆ Former Fed Governor Kevin Warsh: I'm less impressed about the strength of the U.S. economy today
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Fed Governor Kevin Warsh: I'm less impressed about the strength of the U.S. economy todayKevin Warsh, Hoover Institution distinguished visiting fellow and former Federal Reserve Governor, joins 'Squawk Box' to discuss the relationship between economic and geopolitical instability, state of the U.S. economy, the Fed's interest rate outlook, and more.

Persons: Kevin Warsh, I'm Organizations: Former, Hoover Institution, Federal Reserve Locations: U.S

☆ The Bond Market’s Message
▼ + stars: | 2023-10-06 | by ( Kevin Warsh | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/the-bond-markets-message-federal-reserve-inflation-monetary-policy-53557ae5

Persons: Dow Jones

☆ Fmr. Fed Governor Kevin Warsh explains why the Fed needs to strengthen the banking system
▼ + stars: | 2023-06-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Fed Governor Kevin Warsh explains why the Fed needs to strengthen the banking systemKevin Warsh, former Federal Reserve Governor and Hoover Institution visiting fellow, joins 'Squawk Box' to discuss the recent bank failures, the Fed's rate hike campaign, and more.

Persons: Kevin Warsh Organizations: Fed, Federal Reserve Governor, Hoover Institution

☆ The U.S. Needs Economic Regime Change
▼ + stars: | 2023-03-20 | by ( Kevin Warsh | ) www.wsj.com time to read: 1 min

History will give a full accounting of the grave errors committed in recent years in economic policy. The costs of the Federal Reserve’s zero-interest policy are multiplying: The misallocation of capital—goosing the price of the riskiest and least-productive of assets—set the conditions for boom and bust. The financing of the “big state” set the country on an unsustainable fiscal trajectory. The extraordinarily loose financial conditions created herd behavior among market participants and firms and complacency among policy makers, including regulators. The surge in inflation substantially raised the cost of living for citizens and undermined business planning.

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