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President-elect Donald Trump has picked Scott Bessent, a hedge fund manager and major Trump fundraiser, to be his next Treasury secretary, people familiar with the decision said.
Bessent, who has been among Trump’s biggest allies on Wall Street, emerged over the past year as a key economic adviser during the presidential campaign.
Bessent is the chief executive officer of Key Square Group, which he founded in 2015 after leaving his role as chief investment officer for George Soros’ investment firm. He’s also an ally of Vice President-elect JD Vance.
If confirmed by the Senate, Bessent, who does not have any previous government experience, would be poised to play a lead role in pushing Trump’s economic agenda through Congress, including debates over how to extend the 2017 tax cuts and raise the debt ceiling.
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