Scott Bessent appointed to lead US Treasury after successful finance career

Scott Bessent, a seasoned investor with experience at George Soros' firm and his own hedge fund, has been appointed to run the U.S. Treasury. He joins a select group of Treasury secretaries with finance backgrounds, including Steven Mnuchin and Henry Paulson. Bessent has advocated for tax reform and deregulation to boost bank lending and energy production. He has a history of successful investments, notably shorting the British pound in 1992, which earned significant profits for Soros Fund Management. Bessent, 62, has known the Trump family for decades and supported Donald Trump’s presidential campaigns. He served as a top economic advisor and fundraiser during the recent election cycle.