Trump taps Scott Bessent for Treasury, capping long drama over choice

Contributing sentiments towards policy:

68% : Both Yellen under Biden and Mnuchin under Trump typically met weekly with Fed Chair Jerome Powell, often over breakfast or lunch.
59% : "Scott is widely respected as one of the world's foremost international investors and geopolitical and economic strategists," said Trump as he announced the nomination in a statement released on Truth Social.
51% : Lutnick, however, was taken out of the running after Trump nominated him to lead his trade and tariff strategy as head of the Commerce Department.
45% : The choice came after days of deliberations by Trump as he sorted through a shifting list of candidates.
42% : Wall Street has been closely watching who Trump would choose, especially given his plans to remake global trade through tariffs and extend and potentially expand the raft of tax cuts enacted during his first term.
39% : Trump, a climate-change skeptic, has vowed to increase production of U.S. fossil fuel energy and end the clean-energy subsidies in President Joe Biden's 2022 Inflation Reduction Act.
29% : As a money manager, he made a large bet on Trump winning after spotting what he called an anomaly in the market - that political and market analysts were too negative on what a Trump victory would mean.
25% : ""Bessent has been on the side of less aggressive tariffs," said Oxford Economics' Ryan Sweet, adding that picking him makes the steep tariffs Trump proposed on the campaign trail less likely.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.