President-elect Donald Trump has selected Scott Bessent, a former Soros Fund Management chief investment officer, to serve as Treasury Secretary. Trump praised Bessent for advocating the “America First Agenda” and highlighted his role in maintaining the U.S. Dollar as the “Reserve Currency of the World.” Bessent, a Yale graduate, supports Trump’s economic policies of deregulation, increasing domestic energy production, and tax cuts. If confirmed by the Senate, Bessent would advise the president on financial, economic, and tax policy.
Bessent, who founded Key Square Capital Management in 2015, has shown a willingness to cross party lines in the past, hosting a fundraiser for former Vice President Al Gore. Originally aspiring to be a journalist, Bessent transitioned to money management after meeting Jim Rogers, a prominent money manager in New York City, who offered him an internship. Bessent sees similarities between journalism and money management in terms of research and analysis, emphasizing the importance of starting with an abstract concept and then looking at empirical data.
Now residing in Charleston, South Carolina with his husband and two children, Bessent is poised to play a key role in Trump’s administration as Treasury Secretary. Trump has expressed confidence in Bessent’s ability to lead efforts to ensure that no Americans are left behind in the upcoming economic boom, while fortifying the U.S. position as the world’s leading economy.
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