Political Appointments

Trump’s Cabinet Picks: Unwavering Loyalty, or Something Worse?

President-elect Trump’s initial Cabinet picks prioritize unwavering loyalty over competence, nominating individuals like Pete Hegseth for Defense Secretary and Tulsi Gabbard for Director of National Intelligence, despite their glaring lack of relevant experience. John Ratcliffe’s nomination for CIA Director, while less shocking, still raises concerns about politicization of intelligence. These choices, including Kristi Noem and Elise Stefanik, reflect a pattern of rewarding staunch Trump supporters, even at the expense of national security. The Senate’s confirmation votes will be crucial in determining whether these appointments proceed and, if so, how long they remain in power.

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Stock Market Plunges as Trump’s Cabinet Picks Spark Economic Fears

Following the announcement of a key political appointment, Novavax and BioNTech experienced significant stock drops exceeding 7%, while Moderna reached its 2024 low. Pfizer saw more moderate losses. This market reaction follows the pharmaceutical industry’s substantial campaign donations to both parties, albeit with a greater contribution to Republicans. However, growing investor concern over the potential long-term economic costs of certain policies is contributing to broader market declines.

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