Business leaders say they are relieved ­President-elect Donald Trump made a safe choice to lead the Department of Treasury after more unconventional selections to other cabinet posts. Hedge fund executive Scott Bessent survived an internal squabble over the role of Treasury secretary,

With Scott Bessent, consumers eyeing prices and interest rates are getting a Treasury Secretary pick who is deeply aware of the big-picture forces pushing and pulling those everyday costs, experts say.

Wall Street analysts believe Bessent will encourage Trump to roll back his aggressive plans for imposing tariffs on imported goods.

Stocks rallied and yields plunged as markets cheered Scott Bessent as Trump's pick to run the Treasury. The Dow and the Russell 2000 hit fresh records.

Investors are “appreciative” of Trump’s nomination of the “business-as-usual” Bessent as Treasury secretary, remarked one strategist.

Key Square Group founder Scott Bessent speaks at a campaign event for Republican presidential nominee and former U.S. President Donald Trump in Asheville, North Carolina, U.S. August 14, 2024. REUTERS/Jonathan Drake/File Photo/File Photo (Reuters) - President-elect Donald Trump's nominee for U.

Scott Bessent is stepping out from behind decades of hedge-fund desks into the Treasury Secretary’s office with one goal: to leave his fingerprints on the global economy. President Donald Trump has tapped the 61-year-old economic historian turned hedge-fund manager to take the reins at the Treasury Department.