President-elect Donald Trump has selected Scott Bessent, a prominent hedge fund manager, to be the U.S. Treasury Secretary, aiming to fulfill pledges of tax cuts and tariffs. Trump envisions Bessent facilitating a strong economic agenda that strives for a revitalized growth and reduced federal debt.
In Trump’s statement, he hailed Bessent as ‘one of the world’s foremost international investors and geopolitical and economic strategists,’ who will usher in a new ‘Golden Age’ for the U.S. economy.
Bessent has a history of supporting deregulation and boosting domestic energy production, as well as advocating for tariffs, which indicates a shift in U.S. economic policy under Trump’s leadership.
Investor responses to Trump's victory suggested optimism, predicting higher growth and a more stable economic landscape, which Bessent is now tasked with promoting through his Treasury role.
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