Trump's pick for Treasury secretary: hedge fund investor Bessant
23-Nov-2024
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.png "Trump's pick for Treasury secretary: hedge fund investor Bessant")
Bessent has been a vocal advocate for tax reform and deregulation, particularly to boost bank lending and energy production.
Donald Trump, the US President-elect, is reportedly set to name Scott Bessent, a veteran hedge fund investor and former Yale University lecturer, as Treasury Secretary, according to a report by Reuters.
Wall Street has been eagerly anticipating Trump’s choice for the role, given his agenda to reshape global trade policies through tariffs. Bessent has been a vocal advocate for tax reform and deregulation, particularly to boost bank lending and energy production.
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In a recent opinion piece for The Wall Street Journal, he described the stock market surge following Trump’s election victory as a reflection of investor “expectations of higher growth, lower volatility and inflation, and a revitalised economy for all Americans”, reported by Reuters.
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Bessent will join a roster of notable financial figures who have held the position, including former Goldman Sachs executives Robert Rubin, Hank Paulson, and Steven Mnuchin, who served as Treasury Secretary under Trump’s first administration. The current Treasury Secretary, Janet Yellen, is the first woman to hold the post and has previously served as Chair of the Federal Reserve and Chair of the White House Council of Economic Advisers. (Agency)
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