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Trump’s Treasury Pick is Scott Bessent. He’s Said It’s Absurd to Fear ‘Trump-Flation.’

November 25, 2024

Hedge-fund manager Bessent was among a flurry of cabinet selections announced by Trump late Friday

by Victor Reklaitis and Robert Schroeder
Market Watch

President-elect Donald Trump has selected hedge-fund manager Scott Bessent to serve as secretary of the Treasury Department, picking a Wall Street figure that he praised during his campaign for a key leadership role in his second administration.

Bessent, who for months has been viewed as a likely choice for the Treasury post, has called for a second Trump presidency to focus on deregulation, increased energy production and a lower federal deficit. He also has defended the president-elect’s economic policies from the charge that they would boost inflation, telling MarketWatch in July that it was “absurd” to think they’d be inflationary.

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