Weekend – Trump nominated Scott Bessent to serve as Treasury Department secretary

Bessent and ex-Fed Warsh were two front runners, Bessent has been given the nod.

Bessent background, in brief:

• was the CIO of Soros Fund Management
• founder of Key Square Capital Management, a hedge fund
• came out for the MAGA movement after working for Soros
• donated to Trump’s presidential campaign, has donated to Democrats also
• advised Trump on economic policy

As for his policies, he is said to be a supporter of tariffs, though not at the levels and speed wanted by Trump. He may have to adapt to Trump’s views now he is a pick.

This article was written by Eamonn Sheridan at www.forexlive.com.