On November 22 (local time), US President-elect Donald Trump announced the nomination of famous investor Scott Bessent as Secretary of the Treasury - an important cabinet position with great influence on international economic , management and financial issues.
"I am pleased to nominate Scott Bessent to be the 79th Secretary of the Treasury of the United States. Scott is widely respected as one of the world's leading international investors and geopolitical -economic strategists," Trump shared the information in a statement published on the social network Truth Social.
Scott Bessent speaks at a campaign event for Donald Trump in Asheville, North Carolina, USA, August 14. (Photo: Reuters)
Wall Street is closely watching who President-elect Trump will pick to lead the US Treasury Department , especially given his plans to reshape global trade through tariffs and potentially extend a series of tax cuts enacted during his first term, Reuters reported.
The choice came after days of deliberating among Trump’s candidates. Sources said Bessent spent several days at Trump’s Mar-a-Lago estate in Florida, making his case for the economy.
Mr. Bessent supports tax reform and deregulation, especially to boost bank lending and energy production.
The market surge following Trump's election victory signals investors' expectations "of higher growth, lower volatility and inflation, and an economic recovery for all Americans," Bessent said .
As Treasury secretary, Mr. Bessent would essentially be America’s top economic official, responsible for keeping the world’s largest economy running, from collecting taxes and paying the nation’s bills to managing the trillion-dollar Treasury bond market and overseeing financial regulation, including handling and preventing market crises.
The head of the Treasury also directs U.S. financial sanctions policy, oversees the International Monetary Fund, the World Bank and other international financial institutions, and manages national security screening of foreign investments in the United States.
Other candidates on Trump’s shortlist for Treasury secretary include Apollo Global Management CEO Marc Rowan and former Federal Reserve Governor Kevin Warsh. Investor John Paulson was also a leading candidate but dropped out. Meanwhile, billionaire Howard Lutnick, another candidate, was named Commerce secretary.
Source: https://vtcnews.vn/ong-trump-chon-nha-dau-tu-noi-tieng-lam-bo-truong-tai-chinh-my-ar909138.html
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