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.

If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.

President-elect Donald Trump's nominee for U.S. Treasury secretary, Scott Bessent, will prioritize delivering on election tax cut pledges, he told the Wall Street Journal in an interview published on Sunday.

The Dow and S&P 500 reached all-time highs, while the dollar weakened on Monday following the news that President-elect Donald Trump has tapped Wall Street’s Scott Bessent to be his next Treasury Secretary.

Hedge fund executive Scott Bessent survived an internal squabble over the role of Treasury secretary, a key position that will face almost immediate deadlines and pressures.

The Dow Jones Industrial Average jumped 440 points to a record close on Monday after President-elect Donald Trump’s pick for Treasury secretary, Scott Bessent, laid out his priorities – including tax cuts.

Scott Bessent is stepping out from behind decades of hedge-fund desks into the Treasury Secretary’s office with one goal: to leave his fingerprints on the global economy. President Donald Trump has tapped the 61-year-old economic historian turned hedge-fund manager to take the reins at the Treasury Department.