Bessent Clears Senate Grilling, Paving Way for Confirmation
- Trump’s Treasury pick awaits vote after Thursday hearing
- Bessent warns US headed for ‘economic crisis’ over taxes
Scott Bessent during a Senate Finance Committee confirmation hearing in Washington, DC, on Jan. 16.
Photographer: Al Drago/BloombergThis article is for subscribers only.
Treasury Secretary nominee Scott Bessent is on track to be confirmed following a confirmation hearing Thursday lacking the theatrics some of his would-be Trump administration colleagues have faced, with questions largely keeping to policy issues like the federal budget and trade tariffs.
A veteran hedge fund manager who entered President-elect Donald Trump’s orbit in the past two years to help build a second-term economic platform, Bessent declared at the Senate Finance Committee hearing that the US’ biggest challenge ahead is extending the 2017 tax cuts set to expire soon.