There is a debate regarding selecting a Treasury Secretary between BlackRock’s CEO Larry Fink and Jamie Dimon if Donald Trump wins the upcoming election.
Larry Fink, the CEO of BlackRock, may be appointed as the Treasury Secretary if Donald Trump is elected President of the United States of America. This appointment may seem unusual.
Will It be JPMorgan’s CEO or BlackRock’s CEO?
There are rumors that Trump is contemplating Fink for the position of Treasury Secretary. Nevertheless, Eleanor Terrett, a reporter for FOX Business, observed that this was not the case, as the Republican presidential nominee is anticipated to request that Jamie Dimon, the CEO of JPMorgan, assume the position. On the one hand, Terrett is close to reality, as Trump has taken advantage of every opportunity to promote Dimon as his choice.
Following the appointment of JD Vance, a pro-Bitcoin Vice President, a few days ago, Trump entertained the possibility of appointing JPMorgan Chase CEO as the U.S. Treasury Secretary. Nevertheless, some crypto advocates argued that he genuinely respects and communicates with Fink. There is an extant relationship between Trump and Fink’s company, BlackRock.
The investment asset management firm oversaw Trump’s financial portfolio for an extended period. The presidential candidate even invested his funds in the BlackRock Obsidian Fund, a “global fixed income multi-strategy hedge fund” described by the firm. Consequently, he may be seriously contemplating the Bitcoin-friendly CEO of BlackRock for the position of Treasury Secretary.
Simultaneously, he disclosed his intention to refrain from replacing the current U.S. Federal Reserve Chair, Jerome Powell, before the conclusion of his term. Bitcoin maxis and the crypto market may find solace in Fink’s selection, as they had previously shuddered at having Jamie Dimon, an anti-Bitcoin figure, on board.
Trump’s Biggest rival withdraws from Presidential race
Although this debate continues, Trump’s primary opponent in the 2024 elections has withdrawn from the race. Joe Biden has officially declared that he will not be running for re-election, thereby validating the rumors circulating for several weeks.
In his letter, he emphasized a few of the accomplishments that America has witnessed during his tenure. He observed that it was in the best interest of his party for him to resign.
He endorsed U.S. Vice President Kamala Harris as the Democratic nominee for the impending elections almost immediately. Many were disappointed by this, as they believed that Hillary Clinton would be the one to be selected.
Although the Democratic Party has not yet authorized Harris, she may ultimately serve as Trump’s next adversary.