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Monday 12 August 2024 22:22:11 GMT

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President-elect Donald Trump has selected Howard Lutnick, the billionaire chairman and CEO of the financial services firm Cantor Fitzgerald, as his pick to lead the Department of Commerce. If confirmed by the Senate, Lutnick would oversee the agency tasked with promoting the nation’s economic growth, and would be responsible for implementing some of Trump’s campaign pledges, including some of the steeper tariffs he’s touted. The department includes the Bureau of Economic Analysis, the U.S. Census Bureau, the National Oceanic and Atmospheric Administration, the National Institute of Standards and Technology, and the U.S. Patent and Trademark Office. Last year, President Joe Biden issued an executive order that tasked the Commerce Department and NIST with developing safety and security standards for artificial intelligence. During Trump’s rally at Madison Square Garden late last month, Lutnick, a co-chair of Trump’s White House transition team, told the crowd that the then-former president’s use of the phrase “America first” means “American citizens employed first.” He also said Trump will balance the federal budget, a feat that has only happened twice in the last six decades. “When we balance our budget, the world is going to feel what it feels like to unleash the full power of the United States economy and its amazing workforce,” he said. Lutnick, whose brother was among the 658 Cantor Fitzgerald employees killed at the World Trade Center in the Sept. 11 attacks, has played a prominent role in post-9/11 relief efforts. He created the Cantor Fitzgerald Relief Fund, which continues to assist wounded service members and people who have been affected by acts of terrorism, natural disasters and other emergencies. Lutnick sits on the board of the 9/11 Memorial & Museum in New York. #trump #donaldtrump #trumpcabinet #trumpadministration #lutnick #howardlutnick #departmentofcommerce #economicgrowth #economy #useconomy #pbsnews

President-elect Donald Trump has selected Howard Lutnick, the billionaire chairman and CEO of the financial services firm Cantor Fitzgerald, as his pick to lead the Department of Commerce. If confirmed by the Senate, Lutnick would oversee the agency tasked with promoting the nation’s economic growth, and would be responsible for implementing some of Trump’s campaign pledges, including some of the steeper tariffs he’s touted. The department includes the Bureau of Economic Analysis, the U.S. Census Bureau, the National Oceanic and Atmospheric Administration, the National Institute of Standards and Technology, and the U.S. Patent and Trademark Office. Last year, President Joe Biden issued an executive order that tasked the Commerce Department and NIST with developing safety and security standards for artificial intelligence. During Trump’s rally at Madison Square Garden late last month, Lutnick, a co-chair of Trump’s White House transition team, told the crowd that the then-former president’s use of the phrase “America first” means “American citizens employed first.” He also said Trump will balance the federal budget, a feat that has only happened twice in the last six decades. “When we balance our budget, the world is going to feel what it feels like to unleash the full power of the United States economy and its amazing workforce,” he said. Lutnick, whose brother was among the 658 Cantor Fitzgerald employees killed at the World Trade Center in the Sept. 11 attacks, has played a prominent role in post-9/11 relief efforts. He created the Cantor Fitzgerald Relief Fund, which continues to assist wounded service members and people who have been affected by acts of terrorism, natural disasters and other emergencies. Lutnick sits on the board of the 9/11 Memorial & Museum in New York. #trump #donaldtrump #trumpcabinet #trumpadministration #lutnick #howardlutnick #departmentofcommerce #economicgrowth #economy #useconomy #pbsnews

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