Trump needs to make Treasury Secretary decision very quickly, says Punchbowl News' Jake Sherman

Thrifty Thinkers
9 followers
2 Video Views·Nov 22, 2024
Jake Sherman, Punchbowl News co-founder, joins 'Squawk Box' to discuss the Trump administration's pick for Treasury Secretary, some of the controversial figures in the Trump cabinet, and much more.
Joining us now with more Jake Sherman,
Punchbowl News co-founder and an ABC News
and MSNBC political contributor.
If Lutnick is in at commerce to take care
of the tariff stuff, can they now get a treasury guy
or gal who's not definitely sort of a good cop, bad cop?
I mean, it's harder to get the markets to go higher
if you're also totally on board with tariffs
across the board, Jake, you know what I'm saying?
Can they get someone like Warsh now?
Would it be all right to do that?
Or do they need someone on board
with some of the more controversial policies?
I'll say, Joe, I have conversations
with the Trump transition team every day,
people who are involved in the selections.
I wish I could chart a graph for who is up
and who is down in the treasury secretary realm.
It's just, it's stunning how much this has shifted
on a day-to-day basis between Lutnick,
who's obviously now out, Scott Besent,
and now Mark Rowan of Apollo.
I have a tough time of keeping track
about who is up and who is down.
I mean, there are knocks on all of these people internally.
And what I would say is that very quickly,
Trump needs to make this decision
because he is all, this is just
from a 30,000-foot point of view,
he needs to find somebody that is easily confirmable
because he has stacked up several people
and is wasting a lot of political capital
and a lot of energy in the Senate on nominations
that are gonna be extremely difficult
or impossible to get through.
So it needs to happen quickly,
and it needs to be someone
that has a good chance of getting through.
So it could be more than one.
In other words, some people think that you get one
that you have to pull, then that takes some
of the pressure off some of the less controversial,
but still controversial figures.
But here's what I would say, Joe,
just on the tariff front,
I don't understand why people think that this person,
whoever he puts in in Treasury,
will have any leeway to make any policy decisions
that are not straight out of Trump's head and Trump's mouth.
I mean, this is somebody who's going
to be executing Trump's agenda.
So I don't know why the narrative is taking hold
that somehow one is gonna be better than the other
on tariffs or on protectionist policy.
It's just not reality.
This person is going to have to work
within the constraints of Congress
and within the constraints of President-elect,
then President Trump, in enacting the agenda.
If then he's not gonna pick someone
who's really independent money,
he's already still thinking about Jeff Sessions
back a couple of years ago.
Being independent-minded is fine.
Kevin Walsh is not gonna, he would tell probably Trump,
and there are people that tell Trump,
no, if I disagree with you, I'm not gonna do it.
Then you're just thinking he wants a lapdog,
and whoever says, yeah, I'll be a lapdog,
that's who he'll pick.
I think that being in the president's cabinet
in any administration is following his policy.
I think I heard yesterday, for example,
out of the Trump transition world,
that people were souring on Mark Rowan
because he has given, over the course of his long time
in finance, a lot of money to Democrats,
including $50,000 to Hillary Clinton in 2016.
Ooh, ooh, ooh.
I don't know that that is,
I don't know that that is-
And Trump gave money to Hillary Clinton.
Why is this a problem?
Of course, of course, Andrew.
And by the way-
That was even, they were at his wedding.
That's all in there.
And by the way, guys, it's not unusual
to have someone, as you guys know in finance,
who gives money across the board.
And in fact, I think that would be welcome
in many quarters of Capitol Hill.
I don't quite understand that.
So, and Scott Bassett is somebody who worked
for George Soros, who the Republican Party
has been spending months and months
and years and years saying is the devil.
So what's your betting line now, Jake, then?
My betting line is that I don't listen to Polly Market
or any of these stupid things at all.
And I think that, I think Andrew's-
Maybe you should have for the election.
