Scott Bessent a credible, safe pick for Treasury: experts [Video]

Hedge fund manager Scott Bessent is a credible, safe choice for US Treasury secretary — and one that is likely positive for markets — observers said Saturday following President-elect Donald Trump’s highly anticipated nomination.

His selection came after competition for the top economic job spilled into the open last weekend, with the world’s richest man Elon Musk throwing his support instead behind Trump’s transition team co-chair Howard Lutnick.

Lutnick has since been named commerce secretary to lead Trump’s tariff and trade agenda, and Bessent’s nomination days later appears to be uncontroversial for now.

“Scott Bessent is a credible, mainstream pick for Treasury Secretary,” said Jason Furman, a professor at Harvard University and former top White House economic adviser.

“I could see previous administrations as having chosen him,” Furman, a former chair of the …