Trump Nominates Investor Scott Bessent as Treasury Secretary

Donald Trump has nominated investor and hedge fund manager Scott Bessent as the future Secretary of the Treasury, a position from which he will direct and manage the fiscal and economic policy of the United States. At 62, he was one of the economic advisors to the now President-elect during the electoral campaign, and the magnate describes him as "one of the world's leading international investors and geopolitical and economic strategists." In fact, he is the founder of the hedge fund Key Square Capital Management.

"Scott's story is the American dream," Trump declared in a statement reported by CNN.

According to the Republican leader, Bessent has long been a staunch supporter of the 'America First' agenda. "My Administration will restore the freedom, strength, resilience, and efficiency of our capital markets. We will give new impetus to the private sector and help curb the unsustainable trajectory of federal debt," the statement reads.

Furthermore, the President-elect has stated that the investor will support his policies, "which will boost US competitiveness and end unfair trade imbalances, working to create an economy that prioritizes growth, especially through our upcoming global energy dominance."

Scott Bessent has been a key figure in fundraising for Trump's electoral campaign and has defended his economic stance in various media appearances. Before founding Key Square, he worked at Soros Capital Management, where he served as Chief Investment Officer from 2011 to 2015.

One of Trump's most controversial economic proposals is to impose high tariffs on all imports, which has led some economists to warn that this measure could reignite inflation. In interviews with media outlets such as Axios and the Financial Times, Bessent sought to downplay the President-elect's trade threats. "My general view is that, in the end, he is a free trade advocate," he told the Financial Times.

The investor could be a key figure in promoting Trump's fiscal agenda in Congress and would also be responsible for economic relations between the United States and the rest of the world.