Official announcements or policy documents released by the US Treasury or federal government

Trump Picks Billionaire Hedge Fund Manager Scott Bessent as Treasury Secretary

Nov 23, 2024, 04:53 PM

President-elect Donald Trump has nominated billionaire hedge fund manager Scott Bessent to serve as Treasury Secretary in his new administration. Bessent, a former George Soros money manager, was a key economic policy adviser and fundraiser for the Trump campaign. His selection, based on recommendations from Wall Street experts, ends Trump's search for a Treasury Secretary where it began. Bessent is known for his advocacy for deficit reduction and has previously supported Democratic causes and candidates such as Al Gore. "He was very supportive of the causes and the people that we supported," said Democrat Will Trinkle, who co-hosted a Gore fundraiser with Bessent in 2000.