Trump Picks Scott Bessent, Ex-Soros Fund Manager, as Treasury Secretary

Nov 22, 2024, 11:50 PM

President-elect Donald Trump has nominated billionaire hedge fund manager Scott Bessent as Treasury Secretary. Bessent, founder and CEO of the global macro investment firm Key Square Capital Management, previously served as chief investment officer at George Soros's Soros Fund Management from 2011 to 2015. A top fundraiser for Trump's campaign, Bessent has been advising Trump on economic policy and is expected to help execute the president-elect's promised tax cuts. He brings deep knowledge of bond and currency markets and has rejected fears of 'Trump-flation'. The nomination was officially announced during a meeting at Mar-a-Lago and must be approved by the Senate.