Lily Chang

President-elect Donald Trump announced Friday his plan to nominate Scott Bessent, founder and CEO of Key Square Group LP, as Treasury secretary. The move places a seasoned hedge fund executive and Trump ally in a key role within the new administration's economic strategy. Bessent's appointment highlights Trump's focus on appointing market-savvy figures to guide the country's economic policy. Bessent, 62, has emerged as a strong contender for the position alongside names such as former Federal Reserve governor Kevin Warsh and private equity executive Marc Rowan. Known as a Wall Street heavyweight, Bessent brings decades of financial experience to the table…

President-elect Donald Trump announced Robert F. Kennedy Jr., a longtime vaccine skeptic and former independent presidential candidate, as his nominee to head the Department of Health and Human Services (HHS). The decision, revealed Thursday, sparked widespread apprehension in the public health community and left the pharmaceutical and biotech industries braced for potential upheaval. Kennedy, a polarizing figure because of his controversial views on vaccines and public health policies, will need Senate confirmation to assume the role. However, Trump has hinted at the possibility of bypassing the confirmation process by making a suspension appointment if necessary. If confirmed, Kennedy would oversee…

As President-elect Donald Trump prepares to return to the White House in January, a potential clash with Federal Reserve Chairman Jerome Powell looms on the horizon, largely dependent on evolving economic conditions. If inflation rises and the economy overheats, the Fed may feel forced to slow the pace of interest rate cuts or even keep them stable. Such a move could put Powell on a collision course with Trump, who has historically criticized the Fed for not easing monetary policy quickly enough. This potential tension is not new. Powell, appointed Fed chair by Trump in 2018, often found himself at…