From taxes to tariffs, hedge fund manager Scott Bessent is poised to be President-elect Donald Trump's right hand in ushering in economic policies.
President Joe Biden and first lady Jill Biden serve food at a "Friendsgiving" dinner with service members and their families in New York.From taxes to tariffs, hedge fund manager Scott Bessent is poised to be President-elect Donald Trump's right hand in ushering in economic policies Trump promised voters would make life more affordable, some of which economists warn will have the opposite effect.
Bessent supports Trump's plans to embrace the cryptocurrency industry and eliminate taxes on tips. When it comes to his promise to implement across-the-board tariffs of at least 20%, which economists warn will raise prices on American consumers, Bessent has shown a more measured philosophy that became more aligned with Trump's as the election neared.
During an interview with CNBC the day after the election, Bessent said "tariffs are a one-time price adjustment" and that he recommends they "be layered in gradually."
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