Trump hints at SEC chairman pick via 'recess appointment' to bypass confirmation process

Odaily Planet Daily Report: Trump hinted that he will bypass the Senate's confirmation process to appoint his government members, which also seems to include replacing SEC Chairman Gary Gensler. Trump recently posted that only he has the right to choose which U.S. senator will serve as the Senate Majority Leader starting from the swearing-in of the new Congress in January 2025. He hopes that the potential Majority Leader will agree to suspend appointments to bypass the confirmation process, allowing officials to take on authoritative positions "immediately" rather than being subject to the president's "power to fill all vacancies that may happen during the recess of the Senate, by granting commissions which shall expire at the end of their next session" as per the U.S. Constitution. During his first term, this power allowed Trump to appoint individuals who may not have been approved by the Senate. Recess appointments are intended to be temporary, not a substitute for Senate approval. President Biden nominated Gensler for the SEC in 2021, and the Senate confirmed the appointment 54-45, with a term until June 2026. During Trump's first term, he went through the constitutional process to appoint SEC commissioners, but also tried to bypass the Republican-controlled Senate by making recess appointments to the U.S. Attorney General position. It is unclear whether Trump's proposed SEC chair nominee would get enough votes to be confirmed by the Senate, or if he plans to formally nominate anyone for any position and rely entirely on recess appointments. As of the publication of this article, Trump has not publicly nominated any potential successor to Gensler. (Cointelegraph)