DECRYPTION – The future president appoints a supporter of budgetary rigor, respected by the markets, to the post of Treasury Secretary.
Will Scott Bessent be “the adult in the room”, capable of curbing Donald Trump’s protectionist zeal? This is what Wall Street is hoping for when it learns that the 62-year-old boss of the Key Square Group fund was finally selected by the president-elect for the post of Treasury Secretary. For months, Donald Trump's many detractors have been alarmed at the idea that a second term for the ebullient, revenge-loving populist would be doomed to failure and chaos, due to the reluctance of many experienced Republicans to work in its Administration.
The South Carolina native is not known to the general public but he is well respected by Wall Street professionals, notably Jamie Dimon, boss of the largest American bank, JPMorgan Chase. A graduate of Yale, where he also taught economic history, he is married to John Freeman, a former New York prosecutor, with whom he raised two children. Scott Bessent would therefore be…
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