US Senate confirms Hedgekeds Manager Bessent as Minister of Finance






The Senate in Washington has confirmed the hedge fund manager Scott Bessent as the new US finance minister. The Congress Chamber voted on Monday with a clear majority for the 62-year-old nominated by President Donald Trump. 68 senators voted for better, 29 against him.

The Wall Street veteran Bessent is one of the less controversial members of the government team nominated by Trump. Several representatives of the opposition Democrats in the Senate also approved his appointment.

In his hearing in the Senate, Bessent had clearly behind the course of the new president in finance and economic policy. Like Trump, Bessent promised a “golden age” for the US economy, which is to be achieved through tax cuts, reducing government expenditure and tariffs to protect domestic industry.

Bessent found in front of the senators that Trump’s import taxes on foreign goods would lead to higher consumer prices in the United States. In his hearing, Bessent also said that he supports harder sanctions against the Russian oil sector in order to achieve an end to the Ukraine war in this way.

Trump praised Bessent as “one of the greatest analysts in Wall Street”. The Bessent, who comes from the south state of South Carolina, has been friends with the Trump family for decades and donated to Trump and other Republicans in the past election campaign.

In the past, however, the graduate of the Elite University Yale worked in leading positions for the billionaire business empire George Soros, who is a supporter of the US Democrats. In 2015, Bessent then founded his own investment fund Key Square, whose start -up capital Soros contributed with $ 2 billion.

Besser will be one of the first openly homosexual ministers of a US government. He lives with his husband and the two children together in Charleston in South Carolina. His partner and children sat in the audience during his Senate hearing.

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  • Hedge fund manager

  • Donald Trump

  • senate

  • Congress chamber

  • Washington

  • Democrats

  • US senate

  • South Carolina

  • US economy