With Scott Bessent, consumers eyeing prices and interest rates are getting a Treasury secretary pick who is deeply aware of the big-picture forces pushing and pulling those everyday costs, experts say.

Investors seemed to signal their approval for Scott Bessent as a safe choice to implement the president-elect’s economic agenda.

World markets cheered the selection of fund manager Scott Bessent as U.S. Treasury Secretary on Monday on hopes he might restrain debt levels, while falling yields weighed on the dollar and commodities such as gold and crude declined.