Scott Bessent, the new US Treasury Secretary under Trump’s administration, has a monster-sized mission. He’s been handed an economic puzzle that could break all financial markets and the entire global economy if he screws up.

Treasury Secretary Scott Bessent has a new plan in the fight to bring down historically high interest rates, and it’s got nothing to do with the Federal Reserve.

Bessent, a hedge fund manager, becomes the nation’s 79th Treasury secretary. He will lead President Trump’s economic agenda.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill

The secretary replaces Rohit Chopra, who had aggressively sought to expand the bureau’s authority over banks and other financial firms.

President Donald Trump has tasked Treasury Secretary Scott Bessent with serving as the acting director of the Consumer Financial Protection Bureau, the agency said Monday.

Scott Bessent was sworn in as Treasury Secretary on Tuesday, taking the helm of one of the government agencies most critical to President Donald Trump’s sweeping economic agenda.

The first openly gay person in the role has the delicate balancing act of cutting taxes and curbing deficits while putting forward a plan on tariffs that doesn’t jeopardize growth.

Treasury Secretary Scott Bessent told Bloomberg that major savings could be made and DOGE was one of the most important government audits he'd seen.