On Friday, President-elect Donald J. Trump announced plans to nominate hedge fund executive Scott Bessent as United States secretary of the treasury.
In a statement, Trump wrote: “Scott has long been a strong advocate of the America First Agenda” and will “help me usher in a new Golden Age for the United States, as we fortify our position as the World’s leading Economy, Center of Innovation and Entrepreneurialism, Destination for Capital, while always, and without question, maintaining the U.S. Dollar as the Reserve Currency of the World.”
Bessent, a onetime associate of Democratic mega-donor George Soros, founded and runs the hedge fund Key Square Group. If confirmed, he will replace outgoing Secretary Janet Yellen, who had previously served as Federal Reserve chair from 2014 to 2018.
