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.

The U.S. Senate has confirmed billionaire investor Scott Bessent as President Donald Trump’s treasury secretary.

The Senate confirmed Scott Bessent as Treasury secretary on Monday, elevating the hedge fund manager to the new administration’s top financial job as President Donald Trump forges ahead on an ambitious economic agenda.