CME's Duffy: Pence Would be 'Brilliant' Pick for Trump

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Oil glut fears weigh on investors

CME Group Executive Chairman & President Terry Duffy on how fear of an oil oversupply is weighing on investors.

In an interview with the FOX Business Network’s Cavut: Coast to Coast Tuesday, the CME Group’s executive chairman and president said if presumptive Republican presidential nominee Donald Trump selects Indiana Governor Mike Pence to be his running mate, it would be a smart move.

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“I think Mike Pence would be a brilliant pick for Donald Trump,” Terry Duffy said. “Donald Trump has always said he needs to get a traditional politician around him. Mike Pence is just that. I think the governor is a good choice if in fact that’s the direction he goes.”  

Just days ahead of both party conventions, speculation has been rampant about who Trump will select to run alongside him as a vice presidential candidate. However, Duffy said the most important part isn’t the man or woman topping the ticket – or even the name on the second line – but who the candidates, should they win, surround themselves with.

“What’s critically important…is that they have good strong people around them. You need to have a cabinet to advise the president where the president will take that advice and do what’s in the best interest of the American people. So, whether that’s Secretary Clinton or Mr. Trump, I think it’s important to have good people around them.”

Anti-Wall Street rhetoric has also ramped up on the campaign trail, something Duffy called low-hanging fruit.

“I know Wall Street has taken its lumps, and some of them are rightfully justified without question. But all in all, when people are trying to build new hospitals, new schools, new sidewalks, across America, we need someone to finance that. And that’s exactly what Wall Street does,” he said.  

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