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The US Senate confirmed on Monday to the tycoon Scott Besent to lead the Treasury Departmenteither. It is about first member of the openly gay cabinet confirmed by the Senate of a Republican Administration.

In a vote of 68 to 29, the Senate confirmed to Besent, while the Senate Republicans work to quickly install those chosen by President Trump for the main positions of the administration.

Besent, 62, is the founder of the Key Square Group Coverage Fund, based in Connecticut. The Secretary of the incoming Treasury appeared before the Senate Finance Committee earlier this month, which approved his bipartisan nomination.

The now Treasury Secretary appeared before the Senate Finance Committee earlier this month, which approved Besent’s nomination in a bipartisan way last week.

“Mr. Bessent has decades of academic, professional and leadership experience relevant to this position, as well as the seriousness, behavior and character necessary to be an effective secretary,” said Senator Mike Crapo, president of the Finance Committee, before of the vote to approve Besent’s nomination outside the committee. “There is no doubt that Mr. Besent is an excellent choice for Treasury Secretary.”

In your audience in the SenateBesent said that one of his goals will be to reduce inflation and impose more sanctions on Russia.

In this regard, he affirmed that he hopes that inflation will approach the goal marked by the Federal Reserve (FED) to reduce the increase in prices to 2 % based on the annual index of personal consumption expenses.

Besent was an important donor to the Trump campaign: according to Forbes, he delivered around $ 3 million to the then former president and other republican causes in this electoral cycle.

The billionaire, exejecutive of Soros Fund Management, provided economic advice to the Trump campaign and has been a firm supporter of Trump’s policies in recent years, from tariffs to expense cuts.

Among his priorities, Besent said that the extension of Trump’s tax cuts, Some of which will expire at the end of the year, is the “most important economic problem of the moment.” If tax cuts are not extended, Besent warned, the country will face an “economic calamity.”

Since Trump assumed the White House last week, the Senate has confirmed some of his nominees for the administration, such as Secretary of State, Marco Rubio; The director of the CIA, John Ratcliffe, the Secretary of Defense, Pete Hegseth, and the Secretary of National Security, Kristi Noem.

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