Donald Trump will nominate Scott Bessent, a hedge-fund investor and former Yale professor, as Treasury Secretary, marking a key appointment as he builds his second-term administration.
The nomination process has largely prioritized loyalty to Trump over expertise, creating controversies about how to manage the role of Treasury in relation to aggressive tariff policies.
Bessent's advocacy for tax reform and deregulation aims to boost bank lending and energy production. His views suggest optimism for growth and a revitalized economy.
Market responses to Trump's election, which Bessent noted might indicate expectations for economic growth, lower volatility, and positive changes in trade, are immense.
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