Trump’s Treasury Nominee Faces Senate Confirmation Hearing Amid Economic Policy Push

WASHINGTON, D.C. — Scott Bessent, President-elect Donald Trump‘s nominee for Treasury Secretary, is set to appear before the Senate on Thursday, Jan. 16, for his confirmation hearing. The 62-year-old hedge fund manager and longtime financial advisor to Trump faces scrutiny as he seeks to lead the nation’s economic policy.

Bessent, a Yale alumnus and former chief investment officer at Soros Fund Management, has been a vocal supporter of Trump’s economic agenda, which includes deregulation, tax cuts, and increased domestic energy production. In preparation for his potential role, Bessent divested from his hedge fund and other investments to avoid conflicts of interest, according to Reuters.

Trump praised Bessent in a statement, calling him a “strong advocate of the America First Agenda” and emphasizing his commitment to maintaining the U.S. dollar as the global reserve currency. “Unlike in past Administrations, we will ensure that no Americans will be left behind in the next and Greatest Economic Boom, and Scott will lead that effort for me, and the Great People of the United States of America,” Trump said.

Bessent’s career spans decades in finance, including founding Key Square Capital Management in 2015. He has also shared his expertise as a guest lecturer at Yale, teaching about financial crises and hedge funds. A longtime New York City resident, Bessent now resides in Charleston, South Carolina, with his husband, John Freeman, a former New York City prosecutor, and their two children.

Bessent’s nomination comes as Trump prepares to return to the White House, with economic policy at the forefront of his agenda. If confirmed, Bessent will advise Trump on financial, economic, and tax matters, playing a key role in shaping the administration’s economic strategy.

Bessent’s confirmation hearing is scheduled to begin at 10:30 a.m. ET on Thursday. The hearing will be closely watched as lawmakers assess his qualifications and alignment with Trump’s vision for the economy.