The U.S. Senate on Monday confirmed Scott Bessent to be President Donald Trump's Treasury secretary, giving the billionaire hedge fund manager a central role in shaping the new administration's policy ambitions around tax cuts and spending and managing economic relationships with allies and adversaries alike.

Scott Bessent is set to have a confirmation hearing as Donald Trump's pick Department of Treasury secretary on Thursday.

The Senate voted to confirm investor and billionaire hedge fund manager Scott Bessent to serve as President Donald Trump’s Treasury