Trump nominates Scott Bessent as treasury secretary; picks Russ Vought to lead budget office
Published On Nov 22, 2024, 6:29 PM
President-elect Trump has nominated Scott Bessent, a respected international investor and economic strategist, to be the next Secretary of the Treasury. Bessent has a strong background in macro investing and was previously the chief investment officer at Soros Fund Management. He aims to support Trump's economic agenda focused on promoting small businesses, reducing regulations, and sustaining the U.S. dollar as the world's reserve currency. The nomination is expected to advance smoothly through the Republican-majority Senate, paving the way for significant economic policy changes as the U.S. approaches its 250th anniversary.
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Bessent's nomination signals a continued focus on pro-business policies, potential tax reforms, and deregulation, which are likely to instill investor confidence and stimulate market growth.
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