Scott Bessent Confirmed as U.S. Treasury Secretary by Senate

The 62-year-old Wall Street veteran, nominated by President Trump, secured bipartisan support despite lacking government experience.

Scott Bessent, a hedge fund manager and former Wall Street analyst, was confirmed by the Senate with 68 votes in favor and 29 against.
Bessent, known for his ties to President Trump and prior work with George Soros, will oversee key economic policies including tax cuts, spending reductions, and import tariffs.
During his confirmation hearing, Bessent endorsed Trump's vision of a 'Golden Age' for the U.S. economy and supported stricter sanctions on Russia's oil sector to address the Ukraine conflict.
Bessent, who is openly gay, becomes one of the first LGBTQ+ cabinet members in U.S. history and lives with his husband and two children in South Carolina.
His nomination has drawn attention for his lack of government experience, though he emphasized his deep understanding of markets and the economy from his private sector career.