Bessent will lead President-elect Donald Trump’s Treasury Department. Bessent is the first out gay member of Trump’s Cabinet.

With Scott Bessent, consumers eyeing prices and interest rates are getting a Treasury secretary pick who is deeply aware of the big-picture forces pushing and pulling those everyday costs, experts say.

Key Takeaways Scott Bessent, Donald Trump's pick for Treasury Secretary, was an economic advisor during his campaign and championed an agenda of tariffs, lower taxes, and deregulation.Bessent is a hedge fund manager who previously worked for liberal billionaire George Soros.

President-elect Donald Trump said he is nominating Scott Bessent, who runs macro hedge fund Key Square Group, as the next US Treasury secretary, enlisting a key adviser to manage the sweeping economic agenda he has vowed to enact in a second term.

The hedge fund manager will be responsible for steering President-elect Donald J. Trump’s unconventional economic agenda.

President-elect Trump selected billionaire investor Scott Bessent to lead the Treasury Department on Friday as the former president continues to call for an increase in tariffs and major shifts in the country’s global trade operations.

The early reviews for Treasury secretary nominee Scott Bessent from Wall Street are in — and they're positive. But now the hard part begins.

Wall Street analysts believe Bessent will encourage Trump to roll back his aggressive plans for imposing tariffs on imported goods.

President-elect Donald Trump's nominee for U.S. Treasury secretary, Scott Bessent, will prioritize delivering on election tax cut pledges, he told the Wall Street Journal in an interview published on Sunday.

Hedge fund executive Bessent will be Trump’s primary conduit to Wall Street investors who are skeptical of the president-elect's punishing trade agenda.