Trump’s nominee for Treasury secretary wanted to appoint a ‘shadow Fed chair’

If Bessent’s candidacy is approved, he will become the second head of the Ministry of Finance after Steven Mnuchin, who collaborated with the George Soros Foundation, Bloomberg recalls.

Bessent, “respected as one of the world’s leading international investors” (according to Trump), has been a key advisor to the president-elect and his team on economic issues in recent months, according to The Wall Street Journal.

Analysts at the business information portal Axios are confident that Bessent “will bring deep knowledge of the bond and currency markets to the Treasury Department” and is also expected to take early steps to reform the Federal Reserve System (Fed).

The potential Treasury Secretary has always criticized the work of this structure, and not long ago proposed a new unconventional idea about the appointment of a “shadow Fed chair” who would succeed Jerome Powell after 2026 (when his term expires). mandate).

Following criticism, he abandoned the idea of ​​a “shadow president” but insisted that the new Trump administration “should name the next chairman of the Federal Reserve as soon as possible” (CNBC).

Now that Bessent has become a key figure in pushing Trump’s tax agenda on Capitol Hill, the United States can look forward to more tax reforms. The candidate could also reconsider the policies of his predecessor Janet Yellen, who introduced sanctions against Russia.