This is the local version of the White House Watch Newsletter. Previous editions can be read here. Sign up for free here and get it Tuesdays and Thursdays. Email us at Whitehousewatch@ft.com
good morning. Welcome to White House Watch. Today let’s talk about:
Possibility of nominations by President Trump to the Treasury Department
Ethics investigation into Matt Gates
How the Middle East is preparing for President Trump
Mark Rowan has become Donald Trump’s shiny new economic toy.
He suddenly emerged as the front-runner for Treasury secretary, rushing back from Hong Kong yesterday to meet President Trump in Florida and make his pitch for the key role. [free to read].
Rowan, CEO of private equity firm Apollo Global Management, carefully prepared for the interview and interviewed big Wall Street donors and Trump aides, according to people familiar with the matter. I’m getting support.
The cabinet role is one of the few remaining by Trump as his team is embroiled in infighting over Treasury nominations.
With Howard Lutnick stepping down, Rowan is competing for the role with hedge fund manager Scott Bessent, who is also being considered for the National Economic Council chair. Former Federal Reserve Chairman Kevin Warsh and Tennessee Sen. Bill Hagerty, who joined Trump and Elon Musk on Tuesday’s SpaceX rocket launch, are also still candidates. is named in the.
Rowan advised the first Trump administration on emergency measures to calm financial markets in the early days of the coronavirus pandemic, but his rise to prominence in politics came amid the anti-government protests. after playing a leading role in forcing President Liz McGill out of the University of Pennsylvania. Israel protests on campus. Rowan and Trump are both Penn alumni.
Rowan, a co-founder of Apollo, became the only company to take the top job after the ouster of Leon Black, who had close ties to the late sex offender Jeffrey Epstein. He is positioning alternative asset management giant Apollo as a new era coming to Wall Street, where the power of the banking industry is waning.
Team 47: Who was chosen?
Matthew Whitaker, who had little foreign policy experience and served as acting attorney general during the Trump administration’s first term, was chosen to be the United States’ ambassador to NATO.
Cantor Fitzgerald CEO Howard Lutnick has been tapped to be Commerce Secretary, putting him in charge of enforcing the sweeping tariffs President Trump promised voters.
Former World Wrestling Entertainment president Linda McMahon has been named to head the Department of Education, which President Trump promised to shut down.
Television doctor Mehmet Oz has been named head of the Centers for Medicare and Medicaid Services.
what we are hearing
Many in Lebanon hope Massad Boulos will be able to persuade others to end the conflict in their homeland © Jeenah Moon/The Washington Post/Getty Images
Middle East officials are trying to get President Trump’s ear as the war-torn region gears up for a staunchly pro-Israel policy that leans toward the United States under the next president.
In Lebanon, many people are pinning their hopes on auto tycoon Massad Boulos, the father-in-law of President Trump’s youngest daughter Tiffany. No other Lebanese voice is better placed within the next president’s circle.
“The fact that he’s Lebanese is definitely something we want.” [what is best for] This could be positive for the country’s long-term interests,” one Lebanese official told the FT’s Raya Halabi. “But we’ll have to wait and see.”
Lebanese officials said Boulos had no contact with the government in an official capacity or on orders from President Trump. But he recently met in Washington with Lebanese Economy Minister Amin Salam and other prominent figures.
Meanwhile, Arab countries are counting on closer ties between Saudi Arabia and President Trump to soften the president-elect’s support for Israel. Arab officials fear that Trump will approve of Israeli moves to annex the occupied West Bank, seize Gaza and escalate tensions with Iran.
But they say Riyadh is concerned about Crown Prince Mohammed bin Salman’s relationship with Trump, the president-elect’s desire for financial deals and an expected push for a “big deal” that would normalize relations between Saudi Arabia and Israel. I hope that it will be put to good use.
“The major player in this region is Saudi Arabia, because the relationship with Saudi Arabia is known. So if the US decides to take regional action, that will be key.” the diplomat told the FT’s Andrew England.
Transition: Latest headlines
perspective
Newsletter recommended for you
Exclusive to FT — Be the first to get exclusive scoops, features, analysis and research from FT. Please register here
Breaking News — Get notified as soon as new articles are published. Please register here
