As anticipated, Scott Bessent, President-elect Donald Trump’s nominee for Treasury secretary, faced tough questions on Thursday from both Democrats and Republicans during his confirmation hearing before the Senate Finance Committee.
Among his responses, the billionaire hedge fund manager said the U.S. dollar should remain the world’s reserve currency, the Federal Reserve should stay independent, and that he’s ready to place tougher sanctions on Russia’s oil sector. Bessent also said he’s against raising the minimum wage on a national basis.
Bessent was introduced by fellow South Carolinian, Republican Senator Lindsey Graham, who said the country needs a Treasury secretary “who knows what he’s doing, has the trust of the president, and loves his country.” Graham added: “Your ship came in with this guy.”
Democrats, including Senators Ron Wyden of…
