Strategists regard hedge fund manager Scott Bessent, founder of Connecticut-based investment firm Key Square Group, as a “safe pair of hands.”

From his years working for George Soros to his role as a key economic advisor to Trump, Bessent has extensive if contradictory Wall Street experience.

U.S. Treasury yields dropped Monday as markets reacted to President-elect Donald Trump's selection of Scott Bessent as Treasury secretary and anticipated key inflation data later this week. Bessent is the founder of Key Square Group and is expected to support Trump's economic goals with gradual tariffs and pro-business policies while prioritizing market stability.