Jakarta –
The President of the United States (US) Donald Trump appointed the billionaire Scott Bessent as the Minister of Finance. Trump believes that Bessent’s ability is capable of ushering the US into a new golden age and strengthening his country on the world economic stage.
“He will help me usher in a new Golden Age for the United States, as we strengthen our position as the world’s leading economy, a center of innovation and entrepreneurship, a destination for capital, and maintain the dollar of the US as the world’s reserve currency,” Trump said, as reported by CNN, Saturday (11/23/2024).
Bessent, now 62 years old, advised Trump on economic policy during the campaign. He is the founder of the hedge fund Key Square Capital Management.
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Before that, Bessent was chief investment officer at Soros Fund Management, a hedge fund founded by Democratic Party megadonor George Soros. Bessent became famous for leading an effort to make bets against the British pound and the Japanese yen that generated billions of dollars in profits for the company.
As a key player in the Cabinet, the US Treasury Secretary advises the president on economic and fiscal matters, including spending and taxes. The role is seen as the most important financial job in any government and has become a hot spot for many wealthy Wall Street donors.
If confirmed by the Senate, Bessent’s early days in office could be more challenging than usual because of pressure to deal with the federal debt limit, the provisions that expire there the 2017 Republican tax cut package and Trump’s campaign promises.
Bessent was the first openly gay Treasury Secretary, as well as the first LGBTQ Cabinet member confirmed in the Senate in a Republican administration. In 2021, the Biden administration’s Secretary of Transportation, Pete Buttigieg, became the first openly gay Cabinet member to be confirmed by the Senate.
Since Trump won the election, the US dollar has risen, reaching its highest level in a year. Trump defeated his Democratic rival, Kamala Harris.
“This position represents a vote of confidence in US leadership internationally and in the dollar as the world’s reserve currency,” Bessent said in a Nov. 10 opinion article in The Wall Street Journal.
(ly/hns)
2024-11-23 04:33:00
#Donald #Trump #appointment #Treasury #Secretary
Considering Scott Bessent’s commitment to prioritizing economic growth, what specific policies might he implement to address the concerns regarding income inequality and social mobility, which have been growing in the US?
## World Today News – Interview
**Headline:** Donald Trump Appoints Billionaire Scott Bessent as New Treasury Secretary
**Introduction:**
Welcome to World Today News. Today, we’ll be discussing President Trump’s recent appointment of Scott Bessent as the new US Treasury Secretary. We have two esteemed guests with us today:
* **Dr. Emily Carter,** an economics professor at Columbia University, specializing in international finance.
* **Thomas Miller,** a political analyst and commentator with a focus on US politics.
Let’s delve into this significant appointment and its potential implications.
**Section 1: Past Experiences and Expectations**
* **Dr. Carter:** Scott Bessent brings a rather unique background to the Treasury, with experience in both hedge fund management and advising on campaign economic policy. How do you see these experiences shaping his approach as Secretary?
* **Mr. Miller:** Bessent’s appointment seems to signal a continued focus on business and finance in the Trump administration. What are the potential advantages and disadvantages of having someone with this background at the helm of the Treasury?
**Section 2: The US Economic Landscape**
* **Dr. Carter:** The article mentions challenges like the federal debt limit and expiring tax provisions. What are the most pressing economic issues facing the US today, and how might Bessent’s policies address them?
* **Mr. Miller:** President Trump touted Bessent’s ability to usher in a “Golden Age” for the US economy. Is this a realistic expectation, and what factors could either support or hinder this goal?
**Section 3: Bessent’s Unique Position**
* **Dr. Carter:** Scott Bessent is the first openly gay Treasury Secretary, appointed by a Republican administration. How might this appointment impact LGBTQ representation in politics and influence broader societal conversations around inclusion?
* **Mr. Miller:** Bessent’s appointment comes amidst increasing global scrutiny of the US dollar’s role as the world’s reserve currency. How might his policies impact the dollar’s position and US influence on the international economic stage?
**Section 4: Future Implications and Looking Ahead**
* **Dr. Carter:** Bessent’s confirmation hearing will be crucial. What key issues should Senators focus on when evaluating his qualifications and potential policies?
* **Mr. Miller:** What potential long-term impact could Bessent’s appointment have on the US economy, particularly in light of the upcoming election cycle?
**Conclusion:**
We thank Dr. Carter and Mr. Miller for sharing their valuable insights on this pivotal appointment. Join us next time for more in-depth analysis on current events shaping our world.
