With Scott Bessent, consumers eyeing prices and interest rates are getting a Treasury secretary pick who is deeply aware of the big-picture forces pushing and pulling those everyday costs, experts say.

In the second MAGA Administration, the hedge-fund manager Scott Bessent will have the job of acting as a voice of reason.

Stocks: After underestimating the past two years, Wall Street strategists are back to being bullish. Year-end targets from firms including Goldman Sachs and Morgan Stanley fall near the 6,600 line — representing an advance of about 11.7% from Friday’s close.

President-elect Donald Trump named billionaire Scott Bessent as his pick to serve as the next secretary of the Department of the Treasury.

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.

Former hedge fund manager Scott Bessent is seen as a steady hand to lead the Treasury Secretary with his deep market expertise.

Bessent, founder and CEO of hedge fund Key Square Group, served as an economic adviser to the Trump campaign, often appearing on financial talk shows to argue in favor of the president-elect's economic policies.

When Donald Trump announced Friday that hedge fund manager Scott Bessent was his pick for Treasury secretary, there was a massive sigh of relief from the markets, with the yield on the 10-year Treasury falling sharply (a sign that investors think Bessent will help keep inflation cool) and the stock market getting a little bump.