Senate confirms Scott Bessent as US Treasury Secretary
Kyiv • UNN
Scott Bessent became the new U.S. Treasury Secretary with 68 votes in favor in the Senate. His economic plan envisages a reduction in the budget deficit, GDP growth, and an increase in oil production.
The US Senate has confirmed Scott Bessent as US Secretary of the Treasury with 68 votes in favor and 29 against. This was reported by CNN, according to UNN.
Details
It is noted that Bessent became the fifth nominee of President Donald Trump to be confirmed by the Senate, receiving support from both sides of the party line.
As Treasury Secretary, Bessent will play an important role in implementing Trump's economic agenda. In particular, the GOP-led Congress is working to extend the 2017 tax cuts, which expire at the end of the year, and to address the debt ceiling
According to CNN , this comes amid stable US economic growth and a low unemployment rate of 4.1%, although inflation is still above the Federal Reserve's 2% target.
The stable US economy makes Bessent's job a little easier. His “3-3-3” economic plan includes reducing the federal budget deficit to 3%, reaching 3% of GDP, and producing 3 million more barrels of oil per day by the end of Trump's second term
President Trump has also emphasized his desire to impose tariffs on major US trading partners, including China, Canada, and Mexico, as early as this week. Experts warn that this could lead to an increase in inflation, as American consumers will be forced to pay for higher prices.
Recall
The US Senate confirmed John Ratcliffe as Director of the Central Intelligence Agency with votes from both parties. The decision was not made unanimously.
