Senate Confirms Scott Bessent as US Treasury Secretary

The Senate has confirmed Scott Bessent as US Treasury Secretary Irina Martsiyash

The Senate has confirmed Scott Bessent as US Treasury Secretary, elevating the hedge fund manager to the top financial position in the new administration. This happened on Monday, January 27.

This was reported by 24 Channel with reference to CNN.

Scott Bessent confirmed as US Treasury Secretary

The majority of the United States Senate supported President Donald Trump's nomination of Scott Bessent for the post of Treasury Secretary and, thus, for a leading role in managing the country's economic, fiscal and sanctions policies.

It is noted that the Senate voted 68-29 to confirm Scott Bessent to the job.

It should be added that when Trump named Bessent as his nominee for Treasury Secretary in November, he touted him as a “strong supporter of the America First Agenda.” Trump then said that Bessent would “start a new Golden Age for the United States as we solidify our position” as the world's leading economy, a center of innovation and entrepreneurship, and a destination for capital, while always and unquestioningly preserving the U.S. dollar as the world's reserve currency.

What is known about Scott Bessent

• Scott Bessent was born in South Carolina, graduated from Yale University, and began his career at Brown Brothers Harriman, one of the oldest investment firms in the United States.
• In the 1990s, Bessent worked for George Soros, one of the largest donors to the Democratic Party.
• In In 2011, Bessent was hired by Soros to serve as chief investment officer of his fund, Soros Fund Management.
• Four years later, Bessent founded his own fund, Key Square Capital Management.
• He also taught economic history at Yale University, was a member of the Council on Foreign Relations, and was a trustee of the Rockefeller Institute.
• During the presidential campaign, he was an economic adviser to Trump, a top fundraiser, and a donor.
• In November 2024, President-elect Trump announced his intention to nominate Bessent to serve as U.S. Treasury Secretary in his second administration.