Scott Bessent appointed to key role at U.S. Treasury

Scott Bessent, a seasoned investor, is set to take a significant role at the U.S. Treasury. He has a background in finance, having worked for George Soros and Jim Chanos, and previously ran his own hedge fund. Bessent has advocated for tax reform and deregulation to boost bank lending and energy production. He has been involved with Donald Trump's campaigns for years, serving as a top economic advisor and fundraiser. His career includes notable achievements, such as helping Soros profit from shorting the British pound in 1992. Bessent's hedge fund, Key Square Group, managed about $577 million in assets as of December 2023.