Wall Street execs to Trump: Get your ‘mini-Trump’ off TV!
Wall Street executives are reportedly asking President Donald Trump to keep Commerce Secretary Howard Lutnick off television.
The Telegraph reported that Trump’s banking allies are growing “frustrated” with Lutnick amid growing economic uncertainty. This comes after Trump has implemented and paused costly tariffs on some of the U.S.‘s closest trading partners, including Mexico, Canada and the European Union.
“Lutnick is in one of two places, he’s either on TV or he is in the Oval Office. Trump’s friends on Wall Street have called him directly and said Lutnick should definitely not be talking about the economy, get him off TV,” a source close to the Trump administration told The Telegraph.
The stock market has been on a roller coaster for weeks after Trump threatened to escalate a trade war with Canada and other allies of the U.S. The stock market plummeted earlier this month, essentially erasing all the gains it made since Trump’s election in November.
Lutnick has repeatedly defended Trump’s unpopular tariff policies during media appearances. Other news outlets also reported there was “frustration” with Lutnick’s public stances. CNN reported earlier this week that Lutnick privately said he is “not thrilled” with Trump’s approach to ramp up tariffs.
“He’s got a bit of a curse,” one Wall Street executive told CNN. “He’s got to be the guy out there advocating for Trump, even if he doesn’t own the policy design.”
Someone close to the Trump administration told Politico that Lutnick is “constantly auditioning for Trump’s approval.”
“He’s trying to be a mini-Trump. I don’t think he got the memo that only Trump gets to be Trump,” the person told Politico. “It just reinforces that he doesn’t really know how to do the job.”
The comments come amid conflicting messages from Lutnick and the White House. Lutnick said in an interview on NBC’s “Meet the Press” that Americans should “absolutely not” brace for a recession while Trump suggested to Fox News that there could be a “period of transition.”
The Telegraph reported that Wall Street wants Treasury Secretary Scott Bessent to increase his media appearances, according to one source.
“They [Wall Street] want Scott Bessent, that is why he is doing so much media,” the source told The Telegraph. “It’s not the appearances that avert Trump, it’s these guys saying the market needs to be steadied, it’s Bessent they want.”
Our journalism needs your support. Please subscribe today to NJ.com.