Howard Lutnick
Howard Lutnick, Chairman and CEO of Cantor Fitzgerald and Co-Chair of the Trump 2024 Transition Team speaks at a rally for former US President and Republican presidential candidate Donald Trump at Madison Square Garden in New York, October 27, 2024. ANGELA WEISS/AFP via Getty Images

President-elect Donald Trump is set to name Howard Lutnick, chief executive officer of Cantor Fitzgerald, to be appointed lead the Commerce Department, according to multiple reports.

He had been a front-runner for Treasury secretary but reportedly cooled on him after getting on his nerves for trying to push his own agenda.

Over the weekend, Elon Musk and Robert F. Kennedy Jr. tried to prop up Lutnick's chances for the Treasury role in social media posts.

The Commerce Department's mission is to create conditions for economic growth and opportunity.

Lutnick's role would be crucial in overseeing Trump's economic agenda, according to the Wall Street Journal.

The Wall Street financier has defended the president-elect's financial agenda, including tariffs on foreign goods.

Lutnick has been a co-chair of Trump's transition team. His spokesperson decided to comment to the WSJ.

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