Market Talk – January 28, 2025
ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 decreased 548.93 points or -1.39% to 39,016.87 • Shanghai closed • Hang Seng increased 27.34 points [...]
The Youngest Cabinet in Recent US History?
Donald J. Trump may be one of the oldest presidents in US history, but he has selected the youngest cabinet in recent history. We are seeing the rise of the Millennial generation (born between 1981 and 1996). Even Vice President-Elect J.D. Vance is a Millennial at 40.
Millennials appointed to Trump’s cabinet:
Tulsi Gabbard: 43
Matt Gaetz: 42
Elise Stefanik: 40
Steven Miller: 39
Vivek Ramaswamy: 39
Joe Biden has one of the oldest cabinets in US history. He only has four cabinet members under the age of 50, the youngest being Pete Buttigieg at 42. The median age in Biden’s cabinet is 61.7 compared to Trump’s potential median of 50.8.
Millennials experienced 9/11 in their youth, the Great Recession in early adulthood, and are now the first generation less well off than their parents. Gen X is also well represented among Trump’s nominations.
Critics say they lack the necessary experience. Some forget that the Founding Fathers of this nation were quite young, with James Monroe and Marquis de Lafayette being only 18 years old at the time America was formed. The average age of the signers of the Declaration of Independence was 44, with the average age for the Constitution coming in at 45. George Washington was only 44 in 1776, John Hancock was 39, James Madison, 36, Thomas Jefferson, 33, John Jay, 43, and Alexander Hamilton was 21. Yes, life expectancy was different, but these men shaped history without decades of political experience.
The next generation must actually live with the consequences of the legislation they pass or fail to pass. Many of them have young children who will also grow up in the political landscape they create. That generation understands the current state of the economy and that it is far different for younger generations. Trump is perhaps leaving behind a legacy by appointing a youthful cabinet. He has stated he believes in term limits and does not want to create an atmosphere of career politicians.
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