Scott Bessent appointed to lead US Treasury, joining finance elite

Scott Bessent, a seasoned investor with experience at Soros Fund Management 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. At 62, Bessent has a long-standing connection to the Trump family and supported Donald Trump’s presidential campaign. He served as a top economic advisor and fundraiser during the recent election cycle.