Deficit Reduction and Growth Agenda: Bessent’s Treasury Portfolio

Trump’s new Treasury secretary will be at the center of his economic agenda.

Key Square Group founder Scott Bessent speaks at a campaign event for Republican presidential nominee and former President Donald Trump in Asheville, N.C., on Aug. 14, 2024. Jonathan Drake/Reuters

President-elect Donald Trump confirmed on Nov. 22 his plans to nominate Wall Street billionaire financier Scott Bessent as Treasury secretary.

Bessent, 62, founder of Key Square Group and Trump’s 2024 economic adviser, will serve in one of the most influential economic positions in the White House. By overseeing the Treasury Department, Bessent, if confirmed by the Senate, will function as the federal government’s fiscal watchdog and a vital administration official to enact the president-elect’s economic agenda.