His name had been put forward to the Treasury since Donald Trump’s victory, even if he was not Elon Musk’s favorite candidate to occupy this key position.
UNITED STATES – New name and new explosive profile for Trump II. The nominations for the future government of the winner of the American presidential election continue to fall day after day and Donald Trump has this time chosen Scott Bessent to occupy the crucial position of Secretary of the Treasury.
Appointed this Friday, November 22 by Donald Trump, Scott Bessent is a unique new profile in the team that will soon constitute the Trump administration in the White House. And this, in more than one way, since Scott Bessent would become, if his appointment is approved by the Senate, the openly gay prime minister of a Republican government, as mentioned in the magazine Forbes.
A crucial role
“He will help me launch a new golden age for the United States, solidifying our role as the world’s leading economy, center of innovation and business creation, destination of capital, while ensuring that the The dollar remains, without question, the world’s reserve currency.declared the new president-elect in a press release. Long close to the Trump family, Scott Bessent will undoubtedly play an essential role in the implementation of the economic program of the future American president, but also in controlling the public debt.
And could even become one of the most important voices behind Donald Trump’s shoulder, due to his position, which has both an advisory role, management of the federal budget and oversight of American economic policy.
On the economic program side, Axios estimates that one of its main missions will be to manage the reduction of the public deficit, the control of the federal debt which reaches 36,000 billion dollars, as well as trade relations with the main partners of the United States, including China.
He will also have to increase and sustain the tax cuts made during Donald Trump’s first term, which will expire in 2025. He will also exercise an important role in controlling supervisory financial institutions like the Fed, with regard to which he ardently defends an increased role for political power in the decision-making process.
One foot in each camp
At 62, Donald Trump’s new Treasury Secretary has already been dubbed by the American Bankers Association (ABA), which considered that his past as a financier “will help him lead a ministry essential to the global economy and the country’s banks”.
Founder of the hedge fund Key Square Group, he is in fact far from being a stranger to this environment and was even one of the favorites for the position, despite convictions far from having always been in line with those of the Republican and conservative camp. with which Donald Trump is closely associated.
Because at the start of his career, Scott Bessent was rather close to the opposing camp, working within the investment company of billionaire George Soros (SFM), a real bête noire of conservatives and ” Democratic mega-donor ”, as presented Forbes. First from 1991 to 2000, before trying his luck solo and finally returning for a time to SFM in 2011. It was after this episode with George Soros that he launched his company Key Square Group.
In terms of political support, he has always leaned towards the blue side in the past. As evidenced by a fundraiser organized for Al Gore, former Democratic vice-president of Bill Clinton and unsuccessful candidate in the 2000 American presidential election, defeated by George W. Bush. Subsequently, Scott Bessent also gave his support, mainly financial, to Barack Obama and Hillary Clinton. Before a 180° turn after the victory of Donald Trump, to whom he will a million dollar donation for his presidential inauguration committee.
Source: www.huffingtonpost.fr
