When Donald Trump announced Friday that hedge fund manager Scott Bessent was his pick for Treasury secretary, there was a massive sigh of relief from the markets, with the yield on the 10-year Treasury falling sharply (a sign that investors think Bessent will help keep inflation cool) and the stock market getting a little bump.

Investors are “appreciative” of Trump’s nomination of the “business-as-usual” Bessent as Treasury secretary, remarked one strategist.

President-elect Donald Trump’s pick for Treasury Secretary operates a hedge fund that reaped a massive windfall two years ago — even as global markets sagged.

While little has been reported about his wealth, a look at Bessent's winning bets while working in finance offer some insight into how me made his fortune.

Bessent (pictured), who campaigned for Trump's election and was a donor to his campaign, has expertise on making the right calls on the world economy.

The early reviews for Treasury secretary nominee Scott Bessent from Wall Street are in — and they're positive. But now the hard part begins.

From his years working for George Soros to his role as a key economic advisor to Trump, Bessent has extensive if contradictory Wall Street experience.

President-elect Donald Trump's nominee for U.S. Treasury secretary, Scott Bessent, will prioritize delivering on election tax cut pledges, he told the Wall Street Journal in an interview published on Sunday.

Scott Bessent, the little-known Wall Street investor who became one of President-elect Donald Trump's top economic advisers, has been nominated to be the next treasury secretary in Trump's new administration.

Now is one of the stronger times of the year for stocks. pic.twitter.com/Hh4kA7xx6V — Ryan Detrick, CMT (@RyanDetrick) November 26, 2024 The stock market rallied on Monday as investors reacted positively to President-elect Donald Trump’s nomination of Scott Bessent for Treasury Secretary.