With Scott Bessent, consumers eyeing prices and interest rates are getting a Treasury secretary pick who is deeply aware of the big-picture forces pushing and pulling those everyday costs, experts say.

If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.

President-elect Trump's nominee to serve as Treasury secretary, Scott Bessent, has a 3-3-3 plan that aims to curb budget deficits while spurring economic growth and energy production.

President-elect Donald Trump announced his choice for a new Treasury secretary; the purported frontrunner for the job is Scott Bessent of Key Square Capital Management.

The hedge fund investor predicted last year that President-elect Donald J. Trump’s political fortunes were on the rise.

Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.

If confirmed, Bessent will be tasked with implementing any tax cuts a Republican-controlled Congress may pursue.

President-elect Trump nominated Scott Bessent, the founder and CEO of global macro investment firm Key Square Group, for treasury secretary.

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.