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Fortune

Eleanor Pringle

Trump’s Treasury pick leaves investors hopeful that he’ll take the sting out of ‘America First’ trade policies

Scott Bessent Donald Trump America Elon Musk Jerome Powell US Federal Reserve George Soros Robin Brooks Fox News Wall Street Journal

Scott Bessent, founder and chief executive officer of Key Square Group LP (Credit: Stefani Reynolds—Bloomberg/Getty Images)

Analysts breathed a sigh of relief after President-elect Donald Trump confirmed Wall Street veteran Scott Bessent will be nominated as his Treasury secretary.

Not only does Bessent—a hedge fund manager by trade—come from the same world as Wall Street and European traders, but he’s also framed Trump’s tariffs plan as a negotiation tool rather than a foregone conclusion.

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