Despite the argument from left-wing media outlets and politicians that President Donald Trump is racist and homophobic, he did one thing that probably surprised his many critics. He appointed a Cuban and an openly gay man to his cabinet.
Scott Bessent, President-elect Donald Trump's choice to be Secretary of the Treasury, appears before the Senate Finance Committee for his confirmation hearing, at the Capitol in Washington, Thursday, Jan. 16, 2025. Here’s a look at the life of hedge fund executive and Treasury Secretary Scott Bessent.
While in the past President Donald Trump has implored the Fed to cut its benchmark rate, Bessent said Wednesday that the current strategy is using the levers of fiscal policy to keep rates low. The benchmark the administration is using will be the 10-year Treasury, not the federal funds rate that the central bank controls, he added.
U.S. Treasury Secretary Scott Bessent will head to Ukraine for discussions about the war with Russia, U.S. President Donald Trump announced Tuesday. Trump said in a post on Truth Social that Bessent will meet with Ukrainian President Volodymyr Zelenskyy and suggested the two leaders could discuss pathways to ending the conflict.