The Journal. Inside Trump's Pick for Treasury Secretary
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Nov 26, 2024 In this discussion, Andrew Restuccia, a WSJ reporter specializing in the Trump administration's cabinet choices, breaks down Scott Bessent's rise to Treasury Secretary. It wasn’t an easy path; the selection process resembled a fierce ‘knife fight’ among advisors. Restuccia elaborates on Bessent's Wall Street background and how his economic strategies could reshape U.S. policies. The conversation also touches on the impact of tariffs and the intricate balance between market stability and Trump's aggressive economic agenda.
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Treasury Secretary's Role
- The Treasury Secretary leads economic policy, managing debt and regulations.
- They also oversee sanctions and conduct economic diplomacy.
Bessent's Background
- Like Mnuchin, Bessent has a Wall Street background.
- He worked at Soros Fund Management and co-founded Key Square Capital Management.
Bessent and Trump's Relationship
- Bessent's relationship with Trump is relatively new, starting about a year ago.
- Trump values Bessent's strong support and Wall Street experience.