President-elect Donald Trump has chosen George Soros’ former money manager, Scott Bessent, an advocate for deficit reduction, as his next Treasury secretary.
WASHINGTON — WASHINGTON (AP) — President-elect Donald Trump announced on Friday that he will nominate the former George Soros money manager scott bessent, an advocates deficit reductionto serve as his next Secretary of the Treasury.
Bessent, 62, is the founder of hedge fund Key Square Capital Management, having worked for Soros Fund Management on and off since 1991. If confirmed by the Senate, he would be the nation’s first openly gay treasury secretary.
He told Bloomberg in August that he decided to join Trump’s campaign in part to tackle the rising US national debt. That would include cutting government programs and other spending.
“This election cycle is the last chance for the US to grow out of this debt mountain without becoming some kind of European-style socialist democracy,” he said at the time. __
Associated Press writer Josh Book contributed to this report.