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President-elect Donald Trump is expected to nominate Cantor Fitzgerald CEO Howard Lutnick to serve as commerce secretary, a source familiar with the process confirmed to Fox News Digital.
Lutnick, 63, served as chairman of Trump’s transition team and was a key fundraiser for Trump’s 2020 and 2024 campaigns. Billionaire and Trump supporter Elon Musk endorsed Lutnick as Treasury secretary.
The source said it’s a “free for all Treasury secretary” and there is a “craze to find someone who supports rates” to lead the Treasury Department as Lutnick is being tapped to lead the Commerce Department. They added that Lutnick was offered ambassadorship but turned it down.
The Department of Commerce plays an important role in regulating international trade with the US and promoting economic growth in this country.
This is a developing story. Please check back for updates.
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