Scott Bessent appointed as Treasury secretary after competitive selection process
Scott Bessent has been chosen as Donald Trump's Treasury secretary after a competitive selection process. Initially, Bessent faced strong opposition, including criticism from Elon Musk and the emergence of other candidates like Marc Rowan and Kevin Warsh. Despite the challenges, Bessent regained favor with Trump, who emphasized his respect for Bessent's investment expertise. The decision marks a shift from earlier speculation about other candidates, indicating Trump's desire for a trusted advisor aligned with his economic policies. The selection process was marked by intense infighting among candidates and their supporters. Bessent's appointment has been met with mixed reactions, with some investors expressing relief while others preferred different candidates.