Online reported that veteran investor John Paulson said in a statement to the Wall Street Journal that he would withdraw from the race for Treasury Secretary of U.S. President-elect Donald Trump. "Although I have been mentioned in various media as a candidate for Treasury Secretary, my complex financial responsibilities prevent me from currently holding a formal position in President Trump's administration," Paulson said in the statement. "However, I intend to continue to actively participate in the president's economic team and help implement President Trump's excellent policy recommendations." According to people familiar with the matter, Paulson has been an ardent supporter of Trump for many years and is one of the candidates Trump considers as the next Treasury Secretary. His decision to exclude himself from consideration largely cleared the way for fellow investor Scott Bessant to take the position. In addition, according to previous media reports, Tennessee Republican Senator Hagerty is also regarded as a contender.