Close Menu
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Ethereum Dominates DeFi, Solana, Bitcoin, BSC, Tron, and Others among Top 10 

July 30, 2025

Bookkeeping Prices for Small Business: What to Expect in 2025

July 30, 2025

The 10 largest American IPOs of all time

July 30, 2025
Facebook X (Twitter) Instagram
  • Contact Us
  • Privacy Policy
  • Terms Of Service
Wednesday, July 30
Doorpickers
Facebook X (Twitter) Instagram
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking
Doorpickers
Home»Economic News»Wall Street welcomes Donald Trump’s pick of Scott Bessent for Treasury secretary
Economic News

Wall Street welcomes Donald Trump’s pick of Scott Bessent for Treasury secretary

November 22, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Scott Bessent was positioned directly to the left of Donald Trump during the then-presidential candidate’s presentation of his economic agenda to a room full of Wall Street elites at the Economic Club of New York in September.

Now nominated for the top position at the US Treasury department, Bessent will step into the spotlight as the most crucial economic figure in the Trump administration.

Trump’s choice to select the hedge fund manager comes after a turbulent battle for the Treasury role, which led to the president-elect expanding his search last minute following intense infighting between Bessent’s team and another top contender, billionaire investor Howard Lutnick.

In opting for Bessent, Trump has diverged from the usual pattern that influenced his other senior cabinet selections, with Bessent being viewed as a pragmatic choice capable of handling the significant responsibilities of the prominent role.

If confirmed by the Senate, Bessent will face a multitude of challenges, including navigating substantial tax cuts through legislation, engaging with concerned trading partners on tariff negotiations, and managing the economic repercussions of potential mass deportations as promised by Trump.

One major aspect of the job will be overseeing the $27 trillion Treasury market, with Trump’s proposed plans expected to significantly increase the country’s debt and inflation rates.

There are concerns about Trump potentially encroaching on the Fed’s independence in his second term, with Bessent likely to play a crucial role in maintaining stability and market confidence.

The day-to-day operations of managing the vast number of employees within the department will be a substantial task, especially for someone without prior government experience.

It will be essential for Bessent to surround himself with experienced deputies to navigate the complexities of running a government agency effectively.

Bessent Donald Pick Scott Secretary Street Treasury Trumps Wall Welcomes
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

US GDP Jumps To 3.0% In Second Quarter, Trouncing Estimates And Reversing Q1 Contraction

July 30, 2025

Delusional Seattle Democrats Blame Trump While Ignoring Their Role In Homelessness Crisis

July 29, 2025

Treasury Inflation-Protected Securities: What are TIPS?

July 29, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Russia & China’s US-Provoked Payment Problems Caught Most BRICS Enthusiasts By Surprise

September 8, 20240 Views

Wall Street Says Sell One and Buy the Other

October 6, 20240 Views

Best margin rates at online brokers

October 9, 20240 Views
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest
Crypto

Ethereum Dominates DeFi, Solana, Bitcoin, BSC, Tron, and Others among Top 10 

July 30, 20250
Personal Finance

Bookkeeping Prices for Small Business: What to Expect in 2025

July 30, 20250
Investment

The 10 largest American IPOs of all time

July 30, 20250
Facebook X (Twitter) Instagram Pinterest
  • Contact Us
  • Privacy Policy
  • Terms Of Service
© 2025 doorpickers.com - All rights reserved

Type above and press Enter to search. Press Esc to cancel.