be distracted by personal business dealings. Several CEOs we spoke to expressed concern about Lutnick’s ability to effectively manage the Commerce Department while also dealing with ongoing investigations and potential conflicts of interest.
The ‘unknowns’
The nomination of Rick Perry as Secretary of Defense has caused some confusion among CEOs and investors, who were expecting a more seasoned military leader in this critical role. Perry, a former governor of Texas and presidential candidate, has limited experience in national security and defense policy. While he has been a strong advocate for energy independence and the fossil fuel industry, his appointment to lead the Department of Defense has left many scratching their heads. Some business leaders we spoke to expressed concern about Perry’s ability to effectively manage the complex challenges facing the U.S. military, including rising tensions with Iran, North Korea, and Russia, as well as the ongoing fight against terrorism.
Overall, the Trump administration’s economic team is a mixed bag of experienced professionals, political insiders, and untested newcomers. The success of Trump’s economic agenda will depend largely on how well these individuals can work together, manage competing priorities, and navigate the unpredictable whims of the president-elect. Only time will tell whether the ‘fortifiers’ can outweigh the ‘detractors’ and whether the ‘unknowns’ will ultimately help or hinder Trump’s efforts to maintain and build upon the strong economic momentum he has inherited.