Trump nominates ex-Soros executive as Treasury Secretary
Donald Trump has appointed hedge fund manager Scott Bessent to head the Treasury Department. Read Full Article at RT.com
TroibNews 
Scott Bessent, formerly the chief investment officer at George Soros' investment firm, has been chosen by President-elect Donald Trump to take over as Treasury Secretary. Once an active fundraiser for the Democratic Party, Bessent has transitioned to support Trump's “America First Agenda.”
Trump announced Bessent's nomination on Friday, and it comes alongside other cabinet appointments such as Republican Representative Lori Chavez-DeRemer for Labor Secretary and former NFL player and Texas state lawmaker Scott Turner for Secretary of Housing and Urban Development.
“Scott has long been a strong advocate of the America First Agenda,” Trump shared on his Truth Social platform. “On the eve of our Great Country’s 250th Anniversary, he will help me usher in a new Golden Age for the United States, as we fortify our position as the World’s leading Economy, Center of Innovation and Entrepreneurialism, Destination for Capital, while always, and without question, maintaining the US Dollar as the Reserve Currency of the World.”
As Treasury Secretary, Bessent will play a significant role in shaping U.S. financial and tax policy, managing public debt, and overseeing sanctions.
Bessent is the founder of Key Square Group, a global investment firm. In the 1990s, he served as chief investment officer at Soros Fund Management, where he led the London office during a notable profit from betting against the British pound in 1992.
He hosted a fundraiser for Democratic presidential candidate Al Gore in 2000, the same year he left Soros Fund Management. Bessent has also made contributions to Barack Obama and Hillary Clinton but has shifted his allegiance toward Trump’s economic policies in recent years.
In 2016, he donated $1 million to Trump’s inaugural committee. Earlier this year, he raised several million dollars for the Trump campaign and later joined as an economic adviser.
Bessent expressed his views on tariffs to the Financial Times last month, stating that he supports Trump's approach to address trade imbalances but anticipates that Trump’s proposed 20% blanket tariffs on imports would likely be "watered down" in negotiations with foreign leaders.
Alejandro Jose Martinez contributed to this report for TROIB News
Trump announced Bessent's nomination on Friday, and it comes alongside other cabinet appointments such as Republican Representative Lori Chavez-DeRemer for Labor Secretary and former NFL player and Texas state lawmaker Scott Turner for Secretary of Housing and Urban Development.
“Scott has long been a strong advocate of the America First Agenda,” Trump shared on his Truth Social platform. “On the eve of our Great Country’s 250th Anniversary, he will help me usher in a new Golden Age for the United States, as we fortify our position as the World’s leading Economy, Center of Innovation and Entrepreneurialism, Destination for Capital, while always, and without question, maintaining the US Dollar as the Reserve Currency of the World.”
As Treasury Secretary, Bessent will play a significant role in shaping U.S. financial and tax policy, managing public debt, and overseeing sanctions.
Bessent is the founder of Key Square Group, a global investment firm. In the 1990s, he served as chief investment officer at Soros Fund Management, where he led the London office during a notable profit from betting against the British pound in 1992.
He hosted a fundraiser for Democratic presidential candidate Al Gore in 2000, the same year he left Soros Fund Management. Bessent has also made contributions to Barack Obama and Hillary Clinton but has shifted his allegiance toward Trump’s economic policies in recent years.
In 2016, he donated $1 million to Trump’s inaugural committee. Earlier this year, he raised several million dollars for the Trump campaign and later joined as an economic adviser.
Bessent expressed his views on tariffs to the Financial Times last month, stating that he supports Trump's approach to address trade imbalances but anticipates that Trump’s proposed 20% blanket tariffs on imports would likely be "watered down" in negotiations with foreign leaders.
Alejandro Jose Martinez contributed to this report for TROIB News
