“I am pleased to nominate Scott Bessent as the 79th Secretary of the Treasury of the United States… My administration will restore freedom, strength, resilience and efficiency to our capital markets. We will rebuild the private sector, and curb the ‘unsustainable’ path of federal debt,” The Hill quoted Trump’s statement posted on Truth Social on the evening of November 22 (US time).

Scott Bessent. Photo: Fox News

“Mr. Scott Bessent has long been a strong supporter of the 'America First' agenda. Ahead of the 250th anniversary of the founding of our great nation, he will help me usher in a 'New Golden Age' for America, as we consolidate our position as the world’s leading economy , a center of innovation and entrepreneurship, a destination for capital, and maintain the strength of the US dollar,” the statement added. According to The Hill, the Treasury Secretary is a crucial position in the Washington administration, as the person holding this position advises the President on economic and financial matters. Bessent, founder and CEO of the hedge fund Key Square Group, previously served as an economic advisor to Trump’s campaign. He also frequently appears on financial talk shows and has voiced support for Trump’s economic policies.

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