Here's what to know about the Treasury secretary pick Bessent, who heads into his confirmation hearing and may become the first Senate-approved LGBTQ+ member in a Republican cabinet.
Scott Bessent, President-elect Trump's pick for treasury secretary, will appear for a Senate Finance Committee confirmation hearing on Thursday, where he will discuss the incoming president's economic vision.
The stakes have never been higher, but with Bessent at the helm of the Trump economic team, a brighter future is within reach.
Their exchange on the minimum wage shows two views of the world.
Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.
The Treasury secretary nominee cultivated allies in Trump’s orbit who have come to see him as a brainy avatar of their vision.
Ronald Reagan had his “ Miss Rosy Scenario ” and “ magic asterisks ” to make his deficit numbers seem better than they actually were. Every Republican president since has used (and abused) a famous napkin sketch to pretend that tax cuts always pay for themselves.
Nominee for U.S. Treasury secretary, Scott Bessent, is expected to declare during his confirmation that Trump will usher in "a new economic golden age."
Scott Bessent, a South Carolina billionaire hedge fund manager, wasted no time getting to the crux of his confirmation hearing: the expiring Trump tax cuts. “This is the single most important economic issue of the day,” Bessent told the committee.
Hedge fund executive Scott Bessent will face a Senate confirmation hearing for Treasury secretary on Thursday, which could make him the first openly gay cabinet member of a Republican administration.
Trump's Treasury pick Scott Bessent argued against a US digital dollar, saying CBDCs suit countries lacking other investment options.