Scott Bessent, one of President-elect Donald Trump’s Secretary of the Treasury nominees, faces a confirmation hearing this Thursday in the Senate Finance Committee. Scott Bessent is expected to outline his views on the best way for this incoming administration to bring about renewed economic growth when he testifies before the panel.
In his prepared remarks, Scott Bessent describes this nomination as a “generational opportunity to unleash a new economic golden age.” The 62-year-old hedge fund manager will focus on the preservation of the dollar as the reserve currency of the world, safeguarding critical supply chains, and putting into place strategic sanctions in the context of a larger national security agenda.
My life has been the ‘only in America’ story that I am determined to preserve for future generations,” Scott Bessent will say, citing his humble beginnings in South Carolina and his journey to financial success.
Scott Bessent is a Yale graduate and the founder of Key Square Capital Management, which he has liquidated his hedge fund for conflict of interest reasons. He is also a vocal proponent of Trump’s economic policies: deregulation, tax cuts, and more domestic energy production.
According to sources, President Trump hailed Scott Bessent as a “strong advocate of the America First Agenda” and expressed confidence that he would spearhead economic reforms. According to Trump in a statement, “Scott will lead efforts to ensure no Americans are left behind in the next economic boom.”.
If confirmed, Scott Bessent would advise on key economic, tax, and financial policies as the Trump administration tries to rebuild the economy. The confirmation hearing is scheduled to begin at 10:30 a.m. ET Thursday.
Background: Scott Bessent, Charleston, South Carolina resident with husband John Freeman, has two children. He comes from a long-standing family in the French Huguenot Church, having an ancestry tied back to Charleston as far back as the 1680s.
The vote for Bessent’s confirmation is a crossroad for the newly elected government to determine how their economic policy will move forward.
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