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How Bessent became Treasury secretary from Democrat donor
Business Standard
|November 25, 2024
In the heat of the 2000 presidential campaign, Vice President AI Gore took a break from barnstorming battleground states to attend a fundraiser for the Democratic National Committee in East Hampton, NY Standing behind Gore onstage was Scott Bessent, a hedge fund manager and at the time - a major donor to Democrats who cohosted the event at his home.
On Friday evening, Bessent was tapped by President-elect Donald J Trump to be his Treasury secretary. Having won the trust of Trump and his inner circle, Bessent would lead a Republican economic agenda of cutting taxes, culling federal regulations and enacting sweeping tariffs.
Wall Street strategists and investors say Bessent is a fiscal hawk and will be positive overall for the economy and the markets.
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