The Senate confirmed Scott Bessent as Treasury secretary on Monday, elevating the hedge fund manager to the new administration’s top financial job as President Donald Trump forges ahead on an ambitious economic agenda.

The U.S. Senate confirmed billionaire investor Scott Bessent on Monday to become the next Treasury secretary and enact the Trump administration's economic agenda of tax cuts and tariffs.

In what appears to be yet another move to consolidate parts of the federal government, President Donald Trump has appointed Treasury Secretary Scott Bessent as the acting director of the Consumer Financial Protection Bureau.