President-elect Trump is expected to tap hedge fund manager Scott Bessent as Treasury secretary in his new administration, sources confirm to NewsNation.
Bessent, the founder and CEO of the hedge fund Key Square Group, served as an economic advisor to the Trump campaign and often appears on economic talk shows to advocate for the president-elect's economic policies. I did it.
He will be confirmed by the Republican-controlled Senate, which will need 51 votes for passage.
In a Wall Street Journal op-ed after Trump's victory, he praised the market's reaction to Trump's victory, saying it showed the market had “clearly embraced the Trump 2.0 economic vision.” he claimed.
“Markets are expressing expectations for higher growth, lower volatility and inflation, and a stronger economy for all Americans,” Bessent wrote.
Billionaire investor John Paulson has withdrawn from the issue, and Cantor Fitzgerald CEO Howard Lutnick, who was also seeking the Commerce Secretary position, has been selected as Secretary of Commerce. As a result, he has emerged as a top candidate for Treasury Secretary.
Bessent will lead the president-elect's economic team, tasked with imposing an aggressive tariff regime aimed at shaking up global trade while keeping financial markets calm amid the turmoil.
The president-elect has raised the concept of economic turnaround, a campaign promise that resonated with voters fed up with inflation, and is seeking a 10-20 percent tax cut on all imports to attract and strengthen investment in the United States. proposed to impose a general tariff of . Domestic industry.
