Bessent to Say Dollar’s Global Status Is Critical to US Economy
- Treasury secretary nominee also advocates sanctions strategy
- He will appear before Senate Finance Committee on Thursday
This article is for subscribers only.
Maintaining the dollar as the world’s reserve asset is critical to US economic health and the nation’s future, Scott Bessent, Donald Trump’s nominee for Treasury secretary, will tell a Senate committee, according to prepared remarks.
“We must secure supply chains that are vulnerable to strategic competitors, and we must carefully deploy sanctions as part of a whole-of-government approach to address our national security requirements,” Bessent plans to tell senators on the Finance Committee Thursday, according to a spokesman, who shared his prepared testimony. “And critically, we must ensure that the US dollar remains the world’s reserve currency.”