Washington: US President-elect Donald Trump is preparing to appoint Scott Besent, a longtime hedge fund investor who taught at Yale University for several years, as Treasury Secretary, media reported on Friday.
both of them Bloomberg and Wall Street Journal Citing people familiar with the matter.
Wall Street has been closely watching who Trump will choose, especially in light of his plans to reshape global trade through tariffs.
Besant has called for tax reform and deregulation, particularly to stimulate more bank lending and energy production, he noted in a recent op-ed for Besant magazine. The Wall Street Journal.
He wrote that the market’s rise after Trump’s election victory indicates “investor expectations for higher growth, lower volatility and inflation, and a revitalized economy for all Americans.”
Besent follows other prominent financial figures who have held the position, including former Goldman Sachs executives Robert Rubin and Hank Paulson and Steven Mnuchin, Trump’s first Treasury secretary. Janet Yellen, the current Secretary and the first woman to hold the position, previously chaired the Federal Reserve and the White House Council of Economic Advisers.