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MNI BRIEF: U.S. Senate Confirms Bessent as Treasury Secretary

USCentral Bank NewsPolicy NewsFederal ReserveEM Policy NewsEM BriefBriefStoryNorth America

MNI (WASHINGTON) - The U.S. Senate on Monday voted 68 to 29 to confirm Scott Bessent to be President Trump’s Treasury secretary, putting in place the new administration’s top economic official who will steer an agenda that is focused on tax cuts, tariffs and deregulation.

Bessent, the 79th Treasury secretary, warned during his confirmation hearing of economic disaster if Trump's 2017 tax cuts aren't extended, calling the effort "the single most important economic issue of the day." He will also be a central figure in economic negotiations with China. 

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MNI (WASHINGTON) - The U.S. Senate on Monday voted 68 to 29 to confirm Scott Bessent to be President Trump’s Treasury secretary, putting in place the new administration’s top economic official who will steer an agenda that is focused on tax cuts, tariffs and deregulation.

Bessent, the 79th Treasury secretary, warned during his confirmation hearing of economic disaster if Trump's 2017 tax cuts aren't extended, calling the effort "the single most important economic issue of the day." He will also be a central figure in economic negotiations with China. 

Keep reading...Show less