New appointments. Donald Trump announced on Friday, November 22, the appointment of Scott Bessent, a fervent promoter of political control over the Federal Reserve, to the key position of Secretary of the Treasury, while Russ Vought, one of the main drafters of the controversial “Project 2025”, must take care of the budget.
Cited among the favorites for this position, Scott Bessent, founder of the investment company Key Square Group and long close to the Trump family, will play an essential role in the implementation of the economic program of the president-elect of the United States. United States, but also in the control of public debt.
“It will help me launch a new golden era for the United States, solidifying our role as the world’s leading economy, a center of innovation and business creation, a destination for capital, while ensuring that “The dollar remains, without a doubt, the world’s reserve currency,” Donald Trump said in a statement.
In a press release, the American Bankers Association (ABA) welcomed Scott Bessent’s appointment and stated that his experience as a financier “will help him lead a ministry essential to the global economy and the nation’s banks.”
openly gay
Graduated from the renowned Yale University, Scott Bessent began his career in 1991 at the investment company of billionaire George Soros (SFM), a true bête noire of conservatives. He first left SFM in 2000 to launch his own investment fund.
After initial failure, he returned in 2011 before resigning again to launch Key Square Group.
Scott Bessent will play a key role leading the Treasury Department, a prestigious position within the government, with advisory functions, federal budget management and economic policy oversight.
In particular, it will have to increase and sustain the tax cuts made during Donald Trump’s first term (2017-2021) and which will expire in 2025.
Its mission will also be to manage the reduction of the public deficit, the control of the federal debt that reaches 36 billion dollars, as well as trade relations with the main partners of the United States, including China.
Scott Bessent would become, if his appointment is approved by the Senate, the first openly gay minister of a Republican government, Forbes magazine highlights.
His name had been proposed to the Treasury since Donald Trump’s victory, along with that of Howard Lutnick, finally named Secretary of Commerce on Tuesday and who had the support of Donald Trump’s entourage, particularly that of billionaire Elon Musk.
Donald Trump subsequently appointed Russ Vought, one of the main drafters of the controversial “Project 2025”, to head the Office of Management and Budget (OMB), an important agency that helps the president decide on policy priorities and their funding.
Source: BFM TV
