The US President-elect Donald Trump nominates investor Scott Bessent as Treasury Secretary.
Reuters writes about it.
The US Treasury Secretary plays a key role in the global economy, overseeing the worldʼs largest bond market, tax collection and economic sanctions.
Scott Bessent.
Reuters / Jonathan Drake / File Photo
Scott Bessent is the founder and CEO of the Key Square Group hedge fund. He has worked in investment management for more than 35 years and was a key economic adviser to Trump during the election campaign, developing economic policy and preparing major speeches.
He has been involved in some of the largest and most profitable deals in hedge fund history, including the short selling of the British pound and the Japanese yen, the restructuring of Argentinaʼs debt and the liquidation of Italian bond broker MF Global.
Bessent advocates tax reform and deregulation, particularly to stimulate bank lending. Some economists said his nomination as Treasury secretary was a relief because Bessent understands markets and can oppose Trumpʼs imposition of tough tariffs.
Trump noted that Bessent is widely respected as one of the worldʼs leading international investors, geopolitical and economic strategists and that he is a proponent of the idea of "America First".
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