Howard Lutnick, a billionaire and founder of Cantor Fitzgerald, has been tapped as commerce secretary, a role he aims to leverage to enact significant change.
Lutnick, known for using tariffs to boost the U.S. economy, may face economic backlash, with many economists warning this strategy could lead to inflation.
With a known history of political donations, Lutnick’s recent political alignment reflects a shift as he distances himself from a Democratic Party he feels has changed.
Having rebuilt Cantor Fitzgerald exponentially since 9/11, Lutnick now faces the challenge of disentangling his extensive business interests from his upcoming governmental responsibilities.
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