### Trump Advisers Back Warsh for Treasury Amid Continued Disputes

Several of President-elect Donald Trump's senior advisers are showing favor towards Kevin Warsh, a former Federal Reserve governor, as a potential candidate for Treasury secretary. This development arises amidst continued disagreements among other candidates for the position, according to sources familiar with the matter.

Hedge fund manager Scott Bessent remains in contention, supported by some key aides who are also open to the possibility of Warsh, now 54, stepping in as an alternative. Despite these signals of support, Trump has appeared increasingly frustrated by the internal feuding that has delayed a final decision, sources indicated.

Warsh, who has been advising Trump's transition team on economic policies and staffing since Election Day, is expected to visit Palm Beach this week. Trump is currently operating his transition efforts from his Mar-a-Lago club in the area, the sources added. The transition team has not responded to requests for comment on the matter.

Although Warsh was not initially considered for the Treasury position, recent disputes between Bessent and Howard Lutnick, CEO of Cantor Fitzgerald LP, have caused advisers to explore additional candidates. These developments have stalled Trump's ability to swiftly appoint someone to the Treasury, a role crucial for implementing his broad economic agenda.

The prolonged decision-making has heightened tension among market participants, who are closely watching the appointment for signals regarding the balance of economic policies in the new administration. Investors remain concerned about how Trump's pick might influence trade, immigration policies, and fiscal management.

The Treasury position, crucial to global finance, oversees significant economic operations including the $28 trillion Treasuries market and around 40 economic sanctions programs. According to David Wessel from the Brookings Institution, Warsh brings valuable experience from his time dealing with the Federal Reserve and Wall Street during crises, potentially offering a reassuring presence in the role.

Bessent, meanwhile, has also found favor with influential Wall Street figures, such as Jamie Dimon of JPMorgan Chase & Co. The choice of Treasury chief will have significant implications for investors' outlook on inflation and other economic policies.

The economic backdrop has shifted noticeably since Trump last held office, marked by a severe cost-of-living crisis and a swelling national debt now standing at roughly $28 trillion, up from $22 trillion in January 2021. The next Treasury secretary will face the complex challenge of managing the extensive national debt and shaping fiscal policy under these new circumstances.