Scott Bessent Sees a Coming ‘Global Economic Reordering.’ He Wants to Be Part of It.

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Posted on 11/25/2024 10:53:38 AM PST by libstripper

cott Bessent spent the past 40 years studying economic history. Now, as Donald Trump’s choice to lead the Treasury Department, he has the chance to make his mark on it.

As a hedge-fund manager, first at George Soros’s firm and later at his own, Bessent specialized in macro investing, or analyzing geopolitical situations and economic data to wager on big-picture market moves. He generated billions of dollars in profits betting on and against currencies, interest rates, stocks and other asset classes around the world.

He was motivated to step out from behind his desk and get involved with Trump’s campaign in part because of a view that time is running out for the U.S. economy to grow its way out of excessive budget deficits and indebtedness.

Around 4:30 p.m. on Friday, Trump called Bessent at his Palm Beach hotel, telling him he was Trump’s choice. Bessent left for Mar-a-Lago Club to join Trump, Vice President-elect JD Vance and incoming chief of staff Susie Wiles, where they shook hands and discussed policy strategy.

In his first interview following his selection, Bessent said his policy priority will be to deliver on Trump’s various tax-cut pledges. Those include making his first-term cuts permanent, and eliminating taxes on tips, social-security benefits and overtime pay.

(Excerpt) Read more at msn.com ...

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A thorough, impartial, brief biography of Mr Bessent. Read and many of you may have serious objections to him, however, it looks like he will be a loyal executor trump economic policies.

1 posted on 11/25/2024 10:53:38 AM PST by libstripper

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