Odaily Planet Daily News: The Trump administration has appointed Luke Pettit, assistant to Republican Senator Bill Hagerty, to a senior position in the US Treasury Department. According to a notice on Congress.gov, Pettit has been nominated as Assistant Secretary for Financial Institutions. Pettit will be responsible for the Treasury Department Office, which plays an important role in formulating policies for regulating banks, fintech companies (including digital asset companies), non bank mortgage lending institutions, and many other financial companies. This position requires Senate approval.
For the past three years, Pettit has been serving as a senior policy advisor to Tennessee Republican Hagetti. According to his LinkedIn profile, prior to this, he was an economist for the Senate Banking Committee, having worked at Bridgewater Fund, the Monetary Affairs Department of the Federal Reserve Bank of Washington, and the Federal Reserve Bank of San Francisco.
He will replace Graham Steele, who held the position during the Biden administration. Steele will leave the Ministry of Finance in January 2024.
Ethan Fallang, a former member of Rumble Inc.'s board of directors and a prot é g é of Vice President JD Vance, has also been appointed to a senior position in the Office of Financial Institutions at the Ministry of Finance. According to insiders, Fallang is a popular candidate for the position of Deputy Assistant Minister of Capital Markets, and it is currently unclear whether he has accepted the position. (Bloomberg)
