As Treasury Department head Scott Bessent will be “essentially the highest-ranking US economic official, responsible for maintaining balance in the world's largest economy,” writes the British “The Guardian”. Bessent will, among others, responsible for areas “from collecting taxes and settling state liabilities to managing the treasury bond market worth PLN 28.6 trillion dollars and overseeing financial regulation, including responding to and preventing market crises.”
Scott Bessent will lead the Treasury Department. He bet everything on Trump
The head of the state treasury also manages, among others, American politics sanctions financial institutions, influences the International Monetary Fund, the World Bank and other international financial institutions, and manages control over foreign investment in the United States. Scott Bessent, 62, is an investor and financier. Was adviser to Donald Trump in the presidential campaign and one of its main donors. He is a billionaire who in the past supported, among others, Al Gore, Hillary Clinton and Barack Obama. “He spent his entire career in financesworking for billionaire George Soros and famous investor Jim Chanos, he also ran his own hedge fund,” reports The Guardian, which reminds that “as a fund manager, he bet a large amount on Trump's victory.”
Bessent to lead US to 'golden era'
The media reminds that Bessent will be responsible for the deregulations and tax cuts announced by the president-elect. He called, among other things, for banks to grant more loans and is in favor of increasing domestic energy production. According to Trump new head of the US Treasury Department will help lead America “toward a golden era.”
I was fully behind President Trump. I was one of the few people on Wall Street who supported him
– Bessent emphasized. “He follows in the footsteps of other financial luminaries who have taken the position, including former Goldman Sachs executives Robert Rubin, Hank Paulson and Steven Mnuchin, Trump's first treasury chief,” recalls The Guardian. Bessent will have to face significant challenges, including: with the need to safely manage the huge budget deficit. It is projected to increase by almost $8 trillion over the decade due to Trump's plans to introduce generous relief for American taxpayers.