Tariffs, tax policy and budget deficits dominated a confirmation hearing for Scott Bessent, the fund manager President-elect Donald Trump picked to run the Treasury Department. Bessent, who has spent his career in the private sector,

Scott Bessent, a South Carolina billionaire hedge fund manager, wasted no time getting to the crux of his confirmation hearing: the expiring Trump tax cuts. “This is the single most important economic issue of the day,” Bessent told the committee.

Trump's promised tax cuts, and their potential consequences for the U.S. economy, took center stage at Bessent's confirmation hearing.