Presidential Transition (US)

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      Trump Taps Kevin Hassett to Lead National Economic Council

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      President-elect Donald J. Trump selected Kevin Hassett on Tuesday to be the director of the White House National Economic Council, giving an adviser who served as his top economist during his first term a leading role in steering his economic agenda.As the director of the N.E.C., Mr. Hassett will work closely with the Treasury secretary to push forward Mr. Trump’s economic plans, focused on cutting taxes, increasing tariffs and expanding energy production. The role is one of the most expansive in the administration and will put Mr. Hassett at the center of the most pressing policy debates.“He will play an important role in helping American families recover from the Inflation that was unleashed by the Biden Administration,” Mr. Trump said in a statement. “Together, we will renew and improve our record Tax Cuts, and ensure that we have Fair Trade with Countries that have taken advantage of the United States in the past.”Mr. Trump has been rounding out his economic team, having last week picked Scott Bessent to run the Treasury Department and Howard Lutnick, the former chief executive of Cantor Fitzgerald, to lead the Commerce Department. Those positions, unlike the N.E.C. directorship, require Senate confirmation.Mr. Trump also selected Jamieson Greer, a lawyer and former Trump official, to lead the Office of the United States Trade Representative.Mr. Greer is a partner in international trade at the law firm King & Spalding. During Mr. Trump’s first term, he served as chief of staff to Robert E. Lighthizer, the trade representative at the time. He was involved in the Trump administration’s trade negotiations with China, as well as the renegotiation of NAFTA with Canada and Mexico.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Team Signs Transition Agreement but Shuns F.B.I. Clearances

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      President-elect Donald J. Trump’s team will have some formal briefings with outgoing staff members, but it has so far refused to allow the F.B.I. to do security clearances for transition members.President-elect Donald J. Trump’s team has signed a transition agreement with the White House that will allow them to begin formal briefings with outgoing staff members in agencies across the government, Mr. Trump’s chief of staff said on Tuesday evening.But Mr. Trump’s team has so far refused to sign an agreement with the Justice Department to allow the F.B.I. to do security clearances for transition members. Without that, Biden administration officials will be unable to share classified information with many of Mr. Trump’s transition aides.The Trump team is also refusing to sign an agreement with the General Services Administration that usually provides secure office space, government email accounts and other support. White House officials said that would make sharing information with Mr. Trump’s officials more difficult over the next two months.In recent decades, incoming presidents have signed agreements with their predecessors to smooth the transition of power. The goal is to ensure that the new administration is ready to take over on Jan. 20 and that its officials adhere to basic ethical standards.Susie Wiles, who will serve as Mr. Trump’s top staff member in the White House, said in a statement that the president-elect had directed that his team sign the traditional memorandum of understanding so that the process of information sharing between the outgoing and incoming administrations could begin.“This engagement allows our intended cabinet nominees to begin critical preparations, including the deployment of landing teams to every department and agency, and complete the orderly transition of power,” Ms. Wiles said in the statement.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      The Metamorphosis of Pete Hegseth

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      Diana NguyenCarlos PrietoMary Wilson and Lisa Chow and Marion Lozano and Listen and follow ‘The Daily’Apple Podcasts | Spotify | Amazon Music | YouTube | iHeartRadioNow that Matt Gaetz has withdrawn from consideration as attorney general, President-elect Donald J. Trump’s most controversial cabinet pick is his selection of Pete Hegseth as secretary of defense.Dave Philipps, who reports on war and the military for The Times, discusses three major deployments that shaped how Mr. Hegseth views the military — and why, if confirmed, he’s so dead-set on disrupting its leadership.Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.On today’s episodeDave Philipps, who reports about war, the military and veterans for The New York Times.As a host on Fox News, Pete Hegseth portrayed some troops charged with war crimes as “heroes.”Tierney L. Cross for The New York TimesBackground readingHis military experiences transformed Mr. Hegseth from a critic of war crimes into a defender of the accused.What to know about Mr. Hegseth, Trump’s pick for defense secretary.There are a lot of ways to listen to The Daily. Here’s how.We aim to make transcripts available the next workday after an episode’s publication. You can find them at the top of the page.Face-checking by More

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      The Markets Cheer Trump’s Treasury Pick, Scott Bessent

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      Investors seemed to signal their approval for Scott Bessent as a safe choice to implement the president-elect’s economic agenda.Stocks and bonds are gaining on Monday, as investors seem to cheer the pick of Scott Bessent to run the Treasury Department.Dominic Gwinn/Middle East Images/AFP via Getty ImagesA steady hand Stocks and bonds are rising on Monday, and the dollar is down. On the first trading day since Donald Trump chose the billionaire financier Scott Bessent as his pick for Treasury secretary, investors seem to be signaling they like the choice.The hedge fund mogul is seen as a steady hand to enact the president-elect’s economic vision — and, just as important, oversee the $28 trillion Treasuries market. “Investors prefer orthodoxy, predictability, and coherence from economic policy; there were fears that some of the candidates may not possess those attributes. Bessent does,” Paul Donovan, chief economist of UBS Global Wealth Management, wrote in a research note on Monday.The Key Square Group founder overcame serious opposition from some in Trump’s inner circle. Elon Musk derided Bessent as a “business-as-usual choice” and threw his weight behind Howard Lutnick, the C.E.O. of Cantor Fitzgerald. When Trump tapped Lutnick to lead the Commerce Department instead, Bessent was left to fight it out against the likes of Mark Rowan, the boss of Apollo Global Management, the private equity giant.Bessent won a “knife fight” to get the nod. On Wall Street, a document was circulated suggesting that his Key Square hedge fund had underperformed the booming markets. Bessent’s ascent is notable in that he doesn’t appear to have been on Trump’s radar during his first administration.His background as a former Democratic donor who worked with George Soros, a villain for the right, has also been scrutinized. (Interesting fact: Bessent furnished the progressive billionaire financier with key data that prompted Soros to make one of his most famous trades: shorting the British pound.) Some Trump backers, including Palmer Luckey, the defense tech entrepreneur, worried about Bessent’s commitment to the president-elect’s America-first agenda.Investors appear to have fewer qualms. Bessent gets high marks as a fiscal conservative and a champion of growth — at Key Square, he told clients that Trumponomics would usher in an “economic lollapalooza” — through deregulation and lower taxes.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Is Running His Transition Team on Secret Money

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      Breaking with past practice, President-elect Donald J. Trump has not agreed to disclose the donors paying for his planning effort or to limit their contributions.President-elect Donald J. Trump is keeping secret the names of the donors who are funding his transition effort, a break from tradition that could make it impossible to see what interest groups, businesses or wealthy people are helping launch his second term.Mr. Trump has so far declined to sign an agreement with the Biden administration that imposes strict limits on that fund-raising in exchange for up to $7.2 million in federal funds earmarked for the transition. By dodging the agreement, Mr. Trump can raise unlimited amounts of money from unknown donors to pay for the staff, travel and office space involved in preparing to take over the government.Mr. Trump is the first president-elect to sidestep the restrictions, provoking alarm among ethics experts.Those seeking to curry favor with the incoming administration now have the opportunity to donate directly to the winning candidate without their names or potential conflicts ever entering the public sphere. And unlike with campaign contributions, foreign nationals are allowed to donate to the transition.“When the money isn’t disclosed, it’s not clear how much everybody is giving, who is giving it and what they are getting in return for their donations,” said Heath Brown, a professor of public policy at John Jay College of Criminal Justice who studies presidential transitions. “It’s an area where the vast majority of Americans would agree that they want to know who is paying that bill.”Mr. Trump’s transition team, led by Linda McMahon and Howard Lutnick, both of whom were nominated to cabinet positions last week, has repeatedly said it intends to sign the agreements with the Biden administration, known as memorandums of understanding.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump’s Choices for Health Agencies Suggest a Shake-Up Is Coming

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      The picks to oversee public health have all pushed back against Covid policies or supported ideas that are outside the medical mainstream.A longtime leader of the anti-vaccine movement. A highly credentialed surgeon. A seven-term Florida congressman. A Fox News contributor with her own line of vitamins.President-elect Donald J. Trump’s eclectic roster of figures to lead federal health agencies is almost complete — and with it, his vision for a sweeping overhaul is coming into focus.Mr. Trump’s choices have varying backgrounds and public health views. But they have all pushed back against Covid policies or supported ideas that are outside the medical mainstream, including an opposition to vaccines. Together, they are a clear repudiation of business as usual.“What they’re saying when they make these appointments is that we don’t trust the people who are there,” said Dr. Paul Offit, director of the Vaccine Education Center at Children’s Hospital of Philadelphia and an adviser to the Food and Drug Administration.Some doctors and scientists are bracing themselves for the gutting of public health agencies, a loss of scientific expertise and the injection of politics into realms once reserved for academics. The result, they fear, could be worse health outcomes, more preventable deaths and a reduced ability to respond to looming health threats, like the next pandemic. “I’m very, very worried about the way that this all plays out,” Dr. Offit said.But other experts who expressed concerns about anti-vaccine views at the helms of the nation’s health agencies said that some elements of the picks’ unorthodox approaches were welcomed. After a pandemic that closed schools across the country and killed more than one million Americans, many people have lost faith in science and medicine, surveys show. And even some prominent public health experts were critical of the agencies’ Covid missteps and muddled messaging on masks and testing.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Stock for Sale by Cabinet Members

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      Trump’s picks for Treasury secretary and commerce secretary both lead Wall Street firms. Here’s what that could mean for their finances and businesses.As President-elect Donald Trump takes an unconventional approach to stocking his cabinet, he’s also embracing one candidate pool that has plenty of precedent: Wall Street chief executives.On Friday, Trump picked Scott Bessent, a top economic adviser and the founder of Key Square Group, a hedge fund, to be his Treasury secretary. He previously tapped Howard Lutnick, the chief executive of the financial services firm Cantor Fitzgerald, for commerce secretary.Executives appointed to government positions are often required to make extensive stock divestitures, so the path from Wall Street to Washington can be particularly complex (while also offering an opportunity to avoid certain taxes).Bessent’s potential departure from Key Square may trigger “key man provisions” that often protect clients of hedge funds if top executives leave. And Lutnick is inextricably linked with Cantor Fitzgerald: He was named its president in 1991 and steered the firm after it was ravaged by the Sept. 11 attacks in 2001.Here is what we know — and don’t know — about how Bessent and Lutnick plan to unwind.Lutnick would leave Cantor Fitzgerald. He said Thursday that, upon Senate confirmation, he would step down from the company and the two firms it spun out: BGC Group, a brokerage firm, and Newmark, a real estate firm.He’d be leaving during BGC’s ambitious push to take on the exchange giant CME Group — likely a reason that BGC’s shares were down 8 percent for the week. Shares of Newmark were up 1 percent.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Picks Rep. Lori Chavez-DeRemer for Labor Secretary

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      Lori Chavez-DeRemer, a first-term Republican representative from Oregon who narrowly lost her House seat this month, was chosen on Friday to serve as labor secretary in the coming Trump administration.“Lori has worked tirelessly with both business and labor to build America’s work force, and support the hardworking men and women of America,” President-elect Donald J. Trump said in a statement.A moderate from a swing district that includes parts of Portland, Ms. Chavez-DeRemer, 56, is not a major figure in American labor politics. But she was one of only a few House Republicans to support major pro-union legislation, and she split her district’s union endorsements with her Democratic opponent, Janelle Bynum, earning nods from ironworkers, firefighters and local Teamsters.When the House speaker, Mike Johnson, spoke at a Chavez-DeRemer rally in October, he said, “She’s got more labor union endorsements than any Republican I’ve ever seen in my life.”Labor leaders criticized Mr. Trump’s policies during his first term as president, and at one point in the race this year, he praised Elon Musk for a willingness to fire workers who go on strike. But Mr. Trump also proposed ending taxes on tips and overtime, and many rank-and-file union members embraced his pro-tariffs economic agenda.After Ms. Chavez-DeRemer’s defeat this month, the president of the Teamsters, Sean O’Brien, urged Mr. Trump to consider her for the labor secretary role, Politico reported. On Friday, Mr. O’Brien praised her selection, posting a photograph on X of himself standing with Mr. Trump and Ms. Chavez-DeRemer.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More