Trump Chooses Scott Bessent as the New US Treasury Secretary
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President-to-be Donald Trump has chosen Scott Bessent as his U.S. Treasury Secretary candidate. Bessent is the CEO of Key Square Group, a global macro investment firm. Also, he worked as the chief investment officer at Soros Fund Management. With Bassent's nomination, Trump brings to an end the stiff competition for the position. Bessent would be replacing Janet Yellen of the Joe Biden administration.
Notably, Bessent, a hedge fund executive, was also Trump's Economic Advisor during the latter's 2024 election campaigns. With the latest update, Bessent's appointment is expected to create history in the country, as the newly appointed Treasury Secretary would be the first LGBTQ member in the Republican cabinet. In a statement released on Friday, Trump appreciated Bessent for his enthusiasm to the 'America First' agenda. He said,
Scott has long been a strong advocate of the America First Agenda. He will help me usher in a new Golden Age for the United States, while maintaining the U.S. Dollar as the Reserve Currency of the World.
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