U_S_ Treasury nominee Scott Bessent plans to say at his confirmation hearing that President-elect Donald Trump has an opportunity to unleash “a new economic golden age.”

Scott Bessent faced questioning by lawmakers from the Senate Finance Committee earlier Thursday as part of his confirmation hearing as a Trump Cabinet nominee. With President-elect Donald Trump's proposed tariff policies making waves ahead of his re-entry into the White House,

President-elect Donald Trump’s pick for Treasury secretary testifies Thursday before the Senate Banking Committee.

Donald Trump's Treasury secretary nominee Scott Bessent said Thursday he would support tightening sanctions on Russia if the incoming president saw it as a way toward ending the war in Ukraine.

Days before President Biden leaves the White House, the U.S. government has delivered a major blow against Russia. On January 10, 2025, the

President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the Federal Reserve should stay independent, and that he is ready to impose tougher sanctions on Russia's oil sector.

Treasury Secretary nominee Scott Bessent outlined a three-pronged approach to tariffs during his Senate testimony this week, including targeted tariffs, general tariffs as revenue generators and tariffs as a negotiation tool.

Asked whether Congress should abandon the federal debt ceiling, Bessent said that if Trump requested that, he would work with Congress to make it happen

Bessent said he believed Trump's presidency would help "unleash a new economic golden age," which could include more jobs and wealth for Americans.

Scott Bessent, President-elect Donald Trump’s choice for Treasury secretary, said Jan. 16 that the U.S. should institute a “very rigorous screening process” to ensure its outbound investment does not help China catch up to the U.S. in such key technology areas as artificial intelligence, computing chips, quantum computing and surveillance.

At his confirmation hearing before the Senate on Thursday, incoming US Treasury Secretary Scott Bessent said he stood ready to strengthen sanctions against Russia and in particular the Russian oil sector.