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Trump Treasury Prophecies & Trickle-Down Zazonomics

News and notes on two of Wall Street’s hottest topics: speculation regarding Trump’s forthcoming treasury secretary (Steve? Gary? Paulson?) and the latest debt-servicing tea leaves in Zazworld.

Gary Cohn donald trump
My sense is that Gary Cohn doesn’t want to be in Trump’s White House again but he would be happy to succeed Powell as Fed chairman or become secretary of state or treasury. Photo: Chris Kleponis-Pool/Getty Images
William D. Cohan
November 10, 2024

A few days after the election, I caught up with Robert Wolf to get his postmortem. Wolf, of course, isn’t just the former chairman and C.E.O. of UBS Americas, and the former head of UBS’s investment bank. He’s also one of the most politically engaged thinkers on Wall Street—a major donor who’s advised Barack Obama and Hillary Clinton and remains an important Democratic surrogate on Fox News, among other places.