Scott Bessent: From Breaking Banks to Leading U.S. Treasury
TL;DR Summary
Scott Bessent's hedge fund, Key Square Capital, achieved a 29% return in 2022 by betting against the Federal Reserve's inflation predictions, shorting fixed-income assets and tech stocks. This success bolstered Bessent's reputation, leading to his nomination as Treasury Secretary by Donald Trump. Despite past criticisms of his fund's performance, Bessent's strategic acumen during economic turmoil is seen as an asset for managing Trump's economic policies, including tax cuts and handling immigration and tariff plans.
- Scott Bessent’s fund made biggest returns with bet against Fed Financial Times
- Scott Bessent Helped ‘Break’ the Bank of England. Now He’ll Run the U.S. Treasury. The New York Times
- Trump picked Scott Bessent for Treasury despite ties to Democratic megadonor George Soros Fortune
- What Trump's economic appointments tell us about his 2nd-term agenda PBS NewsHour
- Trump's Treasury pick could butt heads with Trump on tariffs and immigration Axios
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