President-elect Donald Trump has announced Scott Bessent, a seasoned hedge fund investor, as his pick for treasury secretary, one of the key roles in his administration. The announcement highlights Bessent's alignment with Trump’s vision to usher in a "golden age" for the United States economy.
In a formal statement, Trump expressed confidence in Bessent’s abilities, describing him as a staunch advocate of the "America First" agenda. Trump stated that Bessent’s appointment would play a crucial role in ensuring the U.S. maintains its status as a global economic powerhouse and a hub of innovation.
He emphasised that Bessent’s leadership would drive economic growth while upholding the U.S. dollar’s position as the world’s reserve currency.
Trump also highlighted his administration’s commitment to ensuring that every American benefits from the anticipated economic boom. He noted that Bessent’s expertise would be instrumental in achieving this goal.
Bessent’s track record as a champion of American industry and his focus on main street America were key reasons for his nomination. Trump underscored Bessent’s role in advancing policies to enhance U.S. competitiveness, address trade imbalances, and boost growth through energy dominance.
Bessent is the founder and CEO of Key Square Group, a hedge fund with a diversified portfolio across sectors such as agriculture, hospitality, publishing, and real estate.
With over 35 years in investment management, he has a reputation for executing some of the largest and most profitable trades in hedge fund history, including the British pound shorting and the Argentine debt reorganisation.
According to Trump’s transition team, Bessent’s experience and strategic insight position him to lead the U.S. Treasury in fostering economic growth and ensuring global financial stability.
As per tradition, Bessent's Indian counterpart will be Finance Minister Nirmala Sitharaman, although their responsibilities differ significantly within their respective governments.
Follow us
