In the weeks since he trounced Kamala Harris in both the Electoral College and in the popular vote, Donald Trump has been busy putting his Cabinet together. Indeed, Trump is trying to assemble the best possible team to help him in his quest to make America great again.

Last Friday, Trump announced that he is nominating investor Scott Bessent as Treasury Secretary. This pick was widely celebrated in financial circles as soon as Trump made it.

Bessent has since said that he will prioritize Trump tax cuts. He also supports cutting the deficit down to three percent of gross domestic product. Bessent wants to do this by growing the economy faster than government spending.

Days after Trump announced that he was nominating Bessent, U.S. financial markets surged in a big way on Monday.

From Breitbart News:
St0cks moved higher on the first trading day following the Friday announcement of Trump’s pick. The Dow Jones Industrial Average rose 475 points, or around one percent. The S&P 500 climbed about six-tenths of a percent. The Nasdaq Composite was also up by around three-quarters of a percent.

The Russell 2000 index of smaller American businesses is up 1.6 percent, signaling investor confidence that the Trump administration’s policies under Bessent will bolster the domestic economy.

Treasury yields fell sharply, likely a signal of falling concerns around inflation and budget deficits. Treasury yields move in the opposite direction of prices, so falling yields indicate investors are paying more for U.S. government debt. Stocks were up in Australia and Japan but down in China.

After four years of economic struggles in Joe Biden’s America, this is will be music to the ears of millions of Americans. Indeed, the Biden-Harris administration allowed the economy to go to shambles, and inflation to skyrocket. Things have gotten so bad that millions of Americans have been struggling just to put food on the table.

Finally, we have someone back in power who will prioritize the economy and turn things around!

Finance World Celebrates – ‘Huge Relief’

“There’s huge relief,” said Jeffrey Sonnenfeld, founder and president of the Yale Chief Executive Institute. “Bessent is reasonable and pragmatic.”

JPMorgan Chase CEO Jamie Dimon also really likes Bessent. A source close to Dimon spoke out on Sunday to say that the CEO thinks that Bessent is an excellent choice for Treasury Secretary.

Bessent is a supporter of Trump’s tariff proposals. He believes that they can be used to benefit American businesses and workers by opening up global markets to products from the U.S. Bessent also thinks that the tariffs will protect American manufacturers from predatory mercantilist policies from China and other nations.

On Saturday, Bessent himself spoke out to say that “tariffs can’t be inflationary because if the price of one thing goes up unless you give people more money, then they have less money to spend on the other thing, so there is no inflation.”

“The inflation comes through either increasing the money supply or increasing the government spending, and that’s what happened under Biden,” he continued.

In the end, Bessent seems like the perfect person to help Trump make America great again. We can’t wait to see what he has in store for us as our new Treasury Secretary!

Key Takeaways: 

• Trump to nominate Scott Bessent as his Treasury Secretary.
• Days later, U.S. financial markets suddenly surge.
• This comes after years of economic struggles under Biden.

Sources: Breitbart News, CNN