Wall Street Week SPECIAL REPORT: Trump Nominates Scott Bessent To Lead US Treasury
Nov 23, 2024
Donald Trump has nominated Scott Bessent as the new U.S. Treasury Secretary, signaling a shift toward his America First agenda. Bessent's financial expertise could reshape key economic strategies, including tariffs and tax cuts. The podcast discusses Bessent's potential historic role as the first openly gay Treasury Secretary, while weighing the implications for fiscal policy and Congressional approval. Insights also touch on Bitcoin fluctuations and immigration’s impact on the economy, stirring debate over continuity versus change.
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Trump Nominates Bessent
- President-elect Trump nominated Scott Bessent for Treasury Secretary.
- Bessent, from Key Square Group, is known for advocating the America First agenda.
Bessent's Background
- Bessent would be the first openly gay Treasury Secretary.
- He previously served as an economic advisor to Trump during the campaign.
Musk's Disagreement
- Elon Musk considered Bessent a "business as usual" choice and preferred Howard Lutnick.
- Trump ultimately chose Bessent despite Musk's opinion.