Donald Trump has named hedge fund executive Scott Bessent as his Treasury Secretary.
Bessent is known to be a supporter of Trump’s policies, including the introduction of tariffs and has advocated for tax reform and deregulation in order to spur more bank lending and energy production.
The appointment, announced on Friday evening, places him at the helm of a cabinet position with vast influence over economic, regulatory and international affairs.
If confirmed by the Senate, he would be the nation’s first openly gay treasury secretary.
Writing on Truth Social making the announcement, Trump explained Bessent’s credentials.
‘I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States. Scott is widely respected as one of the World’s foremost International Investors and Geopolitical and Economic Strategists,’ Trump began.
‘Scott’s story is that of the American Dream. Scott has long been a strong advocate of the America First Agenda. …