• Last week, Trump reportedly had to choose between two leading candidates for Treasury Secretary.
• Reports say Trump has changed his mind and is expanding his search to four major prospects.
• Kevin Warsh and Marc Rowan have also been named as possible suitors.

Two weeks after returning to the White House, President-elect Donald Trump quickly formed his government for 2025.

Trump has already announced six of the people he wants to lead the 15 executive directoratesincluding Robert F. Kennedy Jr. for the Department of Health and Human Services and Florida Senator Marco Rubio for the State Department.

He appears to be taking a slower pace in choosing his successor in Janet Yellen, the current Treasury Secretary.

The new Treasury secretary will likely have two immediate tasks: helping the United States avoid a default when the national debt ceiling expires in January 2025 and extend the 2017 Trump tax cutwhich is worth trillions and is set to largely expire next year.

The president-elect reportedly initially considered only two candidates, but The Wall Street Journal And New York Times reported he had doubts and expanded the list to four prospects.

While Trump still appears uncertain about his choice, it is also possible that another candidate could emerge.

Here are the top choices Trump is currently considering for Treasury secretary. A press contact for the Trump transition team did not respond to a request for comment from BI.

Kevin Warsh

Warsh, 54, is a former Morgan Stanley banker and one of the new suitors.

He served as economic advisor to President George W. Bush from 2002 to 2006 and as governor of the Federal Reserve from 2006 to 2011. During the latter period, Warsh played a central role in shaping the nation’s response to the financial crisis of 2007-2008. , working to save large banks in difficulty.

Most recently, he worked on Trump’s transition team, contributing to economic policy and personnel, according to the Journal.

Warsh seems to have enjoyed the good graces of the president-elect for several years. Axios reported that Trump praised Warsh as a “really good-looking guy” when the two met in 2017 at the White House.

Trump had been Floating War that year as the front-runner for the Fed presidency. He ultimately chose Jerome Powell for the role.

Warsh is often considered a financial hawk, saying in October that he thought the Fed “does not seem to have a serious theory of inflation” and write in July that it acted too slowly to curb the surge in prices.

In his July commentary, he blamed inflation on “irresponsible government spending and excessive money printing.” Warsh also criticized the United States’ growing debt.

Marc Rowan

Rowan, 62, is a billionaire investor who runs Apollo Global Management, which he co-founded in the 1990s. It now manages nearly $700 billion in assets. Apollo recently announced plans to double its assets under management to $1.5 trillion by 2029.

The Journal and Times reported that Rowan, like Warsh, is one of Trump’s new nominees.

The Journal, citing people familiar with the matter, reported that while the billionaire’s aides are in contact with Trump, Rowan is not actively seeking the role of Treasury secretary and has not spoken personally to Trump about a such post.

But the Times also wrote that Trump told his team he was impressed by Rowan, who Bloomberg believes is worth $10.9 billion.

Rowan said America’s economic concerns must be addressed through what he called “wholesale change”, what he said Trump and his new administration would deliver.

This broadly fits with how Trump framed his Cabinet picks as key players who could shake up the status quo and promote further reforms.

Rowan has kept a relatively low profile on his views on government policy, although he has recently expressed concerns that the Fed could overstimulate the economy by cutting interest rates.

Howard Lutnick

Lutnick, 63, is the CEO of Cantor Fitzgerald, a Wall Street financial services firm.

Lutnick served as co-chair of Trump’s transition with WWE royalty Linda McMahon. He has been a friend of the president-elect for decades, repeatedly hosting fundraisers for Trump.

In August, Lutnick organized a event at home in the Hamptons that raised $15 million for the Trump-Vance campaign.

Lutnick closely aligned himself with Trump’s rhetoric. In late October, he expressed his views on the American economy, describing America in the 1900s to a crowd at Madison Square Garden, saying it was a time when “the economy was tipping over.”

“We had no income tax and we only had customs duties” he said in front of a cheering stadium.

Lutnick also said that under Trump, corporate taxes would be increased for American giants like Apple and Tesla. He said Elon Musk, a Trump ally, would welcome such a move if it applied to all big players. Musk supported Lutnick for the Secretary of the Treasury.

Lutnick is also known for leading Cantor Fitzgerald after the September 11 attacks, which killed 658 of its 960 employees at the World Trade Center.

Scott Bessent

Bessent, 62, was an early favorite for Trump’s Treasury secretary job.

His involvement came to light early last week when Reuters reported that the founder of macro investment firm Key Square Capital Management met with Trump at the Mar-a-Lago resort.

Bessent worked for liberal philanthropist George Soros from 1991 to 2015, making his name betting big against the pound, which collapsed in 1992, and then against the Japanese yen, which weakened in 2013.

He left the Soros cabinet in 2015 to create Key Square, and The Review reported that he hadn’t spoken to the billionaire in years.

Bessent made his support for Trump clear, saying Breitbart in August, Vice President Kamala Harris would have crashed the economy if she had been president.

He wrote an opinion column right after the election, congratulating Trump on the stock market rally after his victory and hitting 23 Nobel Prize-winning economists for predicting that the president-elect’s agenda would be “counterproductive.”

The investor laid out his ideas for the economy in his written article, calling on the Trump administration to cut government borrowing and reform President Joe Biden’s investment policies in a “quixotic energy transition.”

Like Lutnick, he is pleaded for an economy which relies more on tariffs and income taxes, saying the move would restore America’s standing on the world stage and help curb China’s growth.

However, The Journal reported that some conservatives in Trump’s entourage were concerned about Bessent’s past experience working for Soros, who angered the MAGA base for his support of left-wing causes.