From Elon Musk to Jerome Powell: who’s in and who’s out of a Trump administration

The White House is turning red, and although Donald Trump is a well-known figure, his administration could introduce new personalities to the political scene.

The Republican politician’s return should also signal the departure of some prominent figures elected and supported by the Biden administration.

This morning, former President Trump was declared the winner of the 2024 election, surpassing the 270 votes needed to assume the Oval Office.

The businessman is known for changing his mind, and only time will tell if he will keep his promises about the roles to be taken by some of the most notable figures who have supported his campaign. In the meantime, see who can join and who can stay out.

Potentially in: Elon Musk

In his election night speech, Trump declared that “a star” had been born in Elon Musk, describing the Tesla CEO as an “amazing guy.”

The SpaceX founder invested at least $132 million in an attempt to help Trump get into office, openly admitting that he would be “in trouble” if the former president was not elected.

In an interview last month, Trump was asked about the “excess fat” he had said he wanted to cut from government agencies.

He responded that the question should be directed to Musk, and explained: “He’s dying to do it. You know he’s a great businessman… and an excellent cost cutter. You’ve already seen this.” And he added: “I could cut costs without affecting anyone.”

Those who have been on the knife-edge of Musk’s cost-cutting initiatives may disagree with this description. Just ask the Twitter employees — today X — who were laid off en masse when Musk purchased the platform in October 2022.

That said, Musk will not be in the cabinet.

According to Trump, “he doesn’t want to be in the cabinet, he just wants to be responsible for cutting costs. We will have a new position, that of cost cutting secretary. Elon wants to do this.” Musk’s office did not immediately respond to Fortune’s request for comment.

Potentially in: Robert F. Kennedy Jr.

Trump reportedly reached an agreement with RFK Jr. — who also launched his presidential bid this election cycle — offering him a position in exchange for his support.
Asked by in August whether he would name the independent politician to his cabinet, Trump responded that he “probably would.”

“He’s a brilliant guy. He’s a very smart guy. I’ve known him a long time,” Trump added at the time.

On a Zoom call with reporters in late October, RFK Jr. announced that Trump had “promised” him control of health agencies if he won the White House. “President Trump promised me…control of public health agencies,” the former nominee said.

The ministries that RFK Jr. would reportedly command include the Ministry of Health and Human Services and its subagencies: the Centers for Disease Control and Prevention (CDC), the Food and Drug Administration (FDA), and the National Institutes of Health (NIH). , in addition to “some others”.

RFK Jr. also said the Ministry of Agriculture would report to him.

The politician added that this appointment is “fundamental to making America healthy.” “We need to abandon oils derived from seeds, we need to abandon agriculture that uses intensive pesticides. We need to make this transition to regenerate agriculture”, continued RFK Jr.

RFK Jr’s office did not immediately respond to .

Potentially out: Jerome Powell

When asked whether he would renominate Chairman Powell, Trump responded bluntly, “No, I wouldn’t do that,” adding that Powell had “got it wrong” on inflation.

Trump also alleged that Powell and the Federal Open Market Committee (FOMC) are “political,” a claim the FOMC has repeatedly rejected.

In February, he said Powell would probably “do something,” like cut rates, to “help Democrats.” In July, the FOMC had still not cut the base rate, and Trump changed his tune.

He told reporters he would allow Powell to serve out his term in May 2026, “especially if I think he’s doing the right thing.”

Of course, in September the FOMC pleased markets not only with a cut, but also by reducing the key rate by 50 basis points, double the 25 basis points expected.

For his part, Powell — who was nominated for the role by Trump himself in 2017 — ignored criticism from Trump and his running mate, JD Vance. Powell and his FOMC peers have reiterated that they are not a political entity and have a federal mandate to work independently.

“All the Fed can do, and all the Fed does, is follow the Federal Reserve System Law, which says it must seek to maximize employment and stabilize prices, and base its decisions on that, That’s what we do,” Chicago Fed President Austan Goolsbee said in August. “You can read the minutes for yourself. The transcript will be published. You can read word for word what everyone said. It’s not about elections, it’s about economic conditions.”

When asked by , the Fed declined to comment on the matter.

Potentially out: Jack Smith

Special Counsel Jack Smith worked at the U.S. Department of Justice, where he brought historic charges against former President Trump.

Smith’s cases relate to the former president’s handling of confidential documents and his efforts to overturn the 2020 election.

The Justice Department cannot prosecute a sitting president, and Trump has made clear that he would like Smith removed as soon as it is within his power to do so.

Last month, Trump said he would fire Smith “in two seconds” if he was handed the keys to the White House and referred to the prosecutor as “the deranged Jack Smith.”