Trump’s potential Treasury pick offers economic outlook: Get ready for ‘golden years’
Although he previously made a name for himself on Wall Street working for Democrat billionaire George Soros, Key Square Capital Management CEO and founder Scott Bessent is ready to help President-elect Donald Trump steer the US economy into a “golden age.”
“Everybody asks me, what are you telling President Trump he should do? I don’t have to tell Donald Trump he should do anything. He did it. We had a great economy under Trump 1.0,” Bessent said Thursday on “Fox & Friends.”
“I think that under Donald Trump,” he continued, “we could have a golden age in the next four years.”
On Tuesday, billionaire investor John Paulson announced that he would withdraw from the race for Trump’s Treasury Secretary nomination, focusing mainly on Bessent and Cantor Fitzgerald CEO and transition chairman Howard Lutnick.
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The Wall Street Journal reported that Lutnick and his allies are making a tough game to get elected, and Lutnick is said to be approaching Trump directly to express his interest.
Key Square Capital Management founder and CEO Scott Bessent may be President Trump’s Treasury pick. (Getty Images/Photography)
But Bessent said Thursday that “it’s all President Trump’s decision. He made big decisions in the campaign,” and that he wants to join the 47th president in improving productivity, energy governance and technological progress.
“We will have peace, and we will have this technological growth. I mean, think about the coalition that Donald Trump gathered. This was the biggest political comeback in history,” Bessent commented.
“And it was a combination of working-class Americans and Elon Musk, the richest man in the world. Who else would do that but Donald Trump?”
During the campaign cycle, Bessent was also a leading financial supporter of Trump – donating about three million dollars – and an advocate of tax reform and deregulation, especially to encourage more bank lending and domestic energy production.
The patriarch of Key Square Capital manages about $600 million in assets today under his hedge fund. A native of South Carolina and a 1984 graduate of Yale University, he worked for the Soros Fund from 1991 to 2000 and rose to head the company’s European division until his departure.
He returned to Soros from 2011 to 2015 as the fund’s chief investment officer, before leaving again to run Key Capital Square which invested $2 billion in Soros himself.
“I grew up in a fishing village, on a small river, in South Carolina,” he told Fox News’ Brian Kilmeade. “Our family struggled financially when I was young. I got my first job when I was nine. I had three jobs to put me through Yale.”
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“And I got to Wall Street, the only thing I knew was that something bad happened in 1929. And I had a great career,” Bessent said. “And the opportunity to be able to give back to the country would be great.”
“I will tell you, as your colleague at the top, Maria Bartiromo said,” Bessent continued to point out, “Donald Trump is one of the best economic leaders we have ever met. And Maria and I have met many leaders. .”
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