Scott Bessent may rue the day he became US Treasury secretary

SCOTT Bessent seems overjoyed at his nomination as US Treasury secretary. But he’s perhaps being handed a poisoned chalice. When he leaves office, he may rue the day he became the 79th Treasury secretary as the inconsistencies and ill-conceived thrust of president-elect Donald Trump’s economic policies generate huge fallout, catching up with the United States and Bessent’s reputation and tenure.

The Treasury secretary is the administration’s chief economic spokesperson, representing the US globally on economic and financial affairs in fora such as the G7, G20, International Monetary Fund and World Bank. Bessent will play a leading role in selling Trump 2.0 policies to Capitol Hill and internationally.

The problems won’t hit immediately, but the challenges over time could become overwhelming.