Author name: fwadmin

Nomination of hedge fund investor follows tumultuous fight for the top US economic post

Hedge fund manager will be responsible for implementing president-elect’s pledges to cut taxes and raise tariffs

Trump Media filed a trademark application for a cryptocurrency wallet called TruthFi.

No one really knew about it or enforced it anyway.

Bessent, 62, served as a key economic adviser to Trump during the campaign, promoting his agenda and crafting policy speeches.

“I am gravely concerned that the rise of tariffs puts us on a slippery slope towards crony capitalism,” the hedge fund billionaire told reporters.

Bessent, 62, is the founder of hedge fund Key Square Capital Management, after having worked on-and-off for Soros Fund Management since 1991. If confirmed by the Senate, he would be the nation’s first openly gay treasury secretary.

Equities investors seem unfazed by the risk that tariffs and tax cuts will push up inflation and deficits. But fears are rising