newly elected president donald trump is selecting He announced Friday that hedge fund CEO Scott Besant will be Treasury secretary.
In a statement, Trump said he was “most pleased to nominate” Besant, describing her as “widely respected as one of the world's leading international investors and geopolitical and economic strategists.”
He said Scott would “support” policies that “will enhance America's competitiveness and prevent unfair trade imbalances.”
Bessant, 62, the founder of Connecticut-based hedge fund Square Group, was pushing for it in full court. Post To Trump, according to a source deeply involved in the transition planning.
Trump previously called Besant a “good-looking guy” and “one of the brightest guys on Wall Street.” Besant joked on Fox News that she is in “violent agreement” with Trump on the issue.
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The mission of the Treasury is to maintain a strong economy and promote economic conditions that enable both growth and stability for America. The department is also charged with managing US finances and countering threats to national security by protecting the integrity of the financial system.
Besant like Trump, advocates tariffsSeeing them as a way to raise revenue and protect American industries.
He previously worked for conservative foil George Soros for nearly a decade in the 1990s, and at one point was the executive director of Soros's hedge fund.
Besant is also openly gay, and she and her husband, former New York City prosecutor John Freeman, have two children. If confirmed, Besant would be the first Senate-confirmed gay Cabinet member of a Republican administration. Rick Grenell was acting director of national intelligence under Trump, but was never confirmed by the Senate.
A native of South Carolina, Besant is a graduate of Yale University.
The Secretary of the Treasury is a Senate-confirmed position. Janet Yellen is the current Treasury Secretary under President Biden.