Trump’s Treasury Chief Faces High-Stakes Challenges

AFP/APP

Washington: Scott Bessent, hedge fund manager and newly named Treasury Secretary by President-elect Donald Trump, is set to face pressing economic challenges as he prepares to assume office.

If confirmed, Bessent will play a key role in implementing Trump’s ambitious economic agenda, including significant tax cuts and proposed tariffs aimed at reshaping global trade relations. However, the incoming Treasury chief must also contend with the looming debt ceiling and rising national debt in the world’s largest economy.

Economic analysts say Bessent’s experience in financial markets will be tested as he seeks to navigate the complex dynamics of federal budgets, debt management, and regulatory reforms.

With promises of a sweeping overhaul of economic policy, Bessent’s tenure could mark a pivotal shift in US financial strategy, shaping both domestic and global markets in the years to come.