President Donald Trump signed an executive order to establish a U.S. sovereign wealth fund aimed at promoting fiscal sustainability, economic security, and international leadership. The fund plans to monetize U.S. assets for the benefit of the American people, with potential investments in infrastructure and companies like TikTok.
Donald Trump has announced the nomination of Scott Bessent, a prominent hedge fund manager and former chief investment officer for George Soros, to be the next Secretary of the Treasury. Bessent's nomination comes as Trump rapidly fills cabinet positions in preparation for his second presidential term. Known for his expertise in international investment and geopolitical strategy, Bessent is expected to support Trump's economic vision focusing on US competitiveness and addressing trade imbalances. If confirmed, he will face challenges such as managing substantial federal deficits and navigating complex trade relations, particularly with China.