Key Takeaways Scott Bessent, Donald Trump's pick for Treasury Secretary, was an economic advisor during his campaign and championed an agenda of tariffs, lower taxes, and deregulation.Bessent is a hedge fund manager who previously worked for liberal billionaire George Soros.

The hedge fund investor predicted last year that President-elect Donald J. Trump’s political fortunes were on the rise.

President-elect Donald Trump has selected investor Scott Bessent as his nominee for Treasury secretary, putting forth a campaign trail partner and early frontrunner for the job after a long and contentious process. The contest for Treasury secretary has emerged as a key stumbling block in Donald Trump's presidential transition period.