How Scott Bessent went from Dem donor to Trump treasury secretary pick

Published On : 2024-11-25T12:10:42+0530 [ IST ] | Author : Mayur_Tembhare
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In the heat of the 2000 presidential campaign Vice-President Al Gore took a break from barnstorming battleground states to attend a fund-raiser for the Democratic National Committee in East Hampton. Standing behind Gore onstage was Scott Bessent a hedge fund manager and - at the time - a major donor

On Friday Bessent was tapped by President Donald Trump to be his treasury secretary.Having won the trust of Trump and his inner circle Bessent would lead a Republican economic agenda of cutting taxes, culling federal regulations and enacting

He was very supportive of the causes and the people that we supported," Trinkle said. Bessent would be the first openly gay treasury secretary.

As treasury secretary Bessent would work to steertax cuts through Congress, lead trade negotiations with China and help cull federal regulations that Trump believes are stifling the economy.

Last spring when many business leaders were hesitant to back Trump publicly as his legal troubles mounted Bessent took a different view. He saw Trump as a "stock that goes up on bad news".

Stanley Druckenmiller a hedge fund investor said while Bessent is soft-spoken he can also be "tough and persuasive" and has the right temperament to work for a demanding boss like Trump.

Source : Reporters From Sunrise Chronicles

Tags : Al Gore , Democrats , Bessent , helpfirst openly gay treasury secretary , Treasury , East Hampton , Having , Barack Obama , George Soros , Senate ,

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