President Donald Trump has announced Scott Bessent as nominee for U.S. Treasury Secretary. The Secretary of Treasury implements tax policy, manages the nation’s debt, leads financial regulators, monitors and executes sanctions and conducts economic diplomacy. While the U.S. trade representative takes the lead on tariffs, the Treasury secretary typically plays a key role advising on that issue as well.

[SOURCE]

Bessent (62) is a hedge Fund manager, the founder of investment firm Key Square Capital Management.  Despite supporting President Trump early, he has faced criticism for working as the CIO at George Soros’s Soros Fund Management from 2011 to 2015. He lives in Charleston, S.C.

Via NBC – […] Bessent has advised Trump to pursue a “3-3-3” policy: cutting the budget deficit to 3% of gross domestic product by 2028, spurring GDP growth of 3% through deregulation, and producing an additional 3 million barrels of oil or its equivalent a day.

He has suggested that Trump’s tariff threats are a negotiating strategy aimed at extracting concessions from other countries. “My general view is that at the end of the day, he’s a free trader,” Bessent told the Financial Times last month. “It’s escalate to de-escalate.” (read more)