Scott Bessent defended tariffs and argued for tax-cut extensions during his confirmation hearing as President-elect Donald Trump’s pick for Treasury secretary in the Senate Finance Committee. No Democrats committed to support him on Thursday,

The hedge fund manager and Trump advisor also lent support to the idea of reconsidering deposit insurance limits for some kinds of accounts, such as those used for payrolls.

The United States should keep oversight of potential problems in the U.S. bond market, President-elect Donald Trump's Treasury Secretary pick Scott Bessent told Congress on Thursday, referring to Wall Street billionaire Howard Lutnick's plan to clear Treasury futures through a UK firm.

Two more of President Trump's Cabinet picks, Doug Collins and Elise Stefanik, will receive confirmation hearings on Tuesday. His Treasury nominee, Scott Bessent, will get a committee vote.

President-elect Donald Trump’s pick for Treasury secretary testified Thursday before the Senate Banking Committee.

Scott Bessent's wise comments on tariffs, taxes, spending, and debt calmed investors and sent markets soaring.

Scott Bessent will also resign from Key Square Group, the hedge fund he founded, to avoid conflicts of interest if the Senate confirms him.

Lawmakers on Capitol Hill are set to question Scott Bessent’s stance on taxes, tariffs, trade and other issues during his confirmation hearing before the Senate Finance Committee.

Trump seeks sharp reductions in federal spending, deeper tax cuts, seemingly universal tariffs and sweeping deregulation.

Plus: Relief for taxpayers impacted by wildfires, itemizing deductions, civil forfeiture programs, Direct File, Tax Cuts and Jobs Acts, tax filing deadlines, and more

In one of her last acts as Treasury Secretary, Janet Yellen says her agency will start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling,