Trump’s choice of Scott Bessent for Treasury is a win for American workers.

The appointment of Scott Bessent as Treasury secretary by President-elect Donald Trump seems to have had a positive effect on the markets. The Dow surged nearly 400 points on Monday morning and continued to rise, reaching a 0.9% increase by the afternoon.

While some of this rise can be attributed to the alleviation of fears on Wall Street regarding Trump’s policies such as tariffs and “mass deportations,” Bessent’s selection has been well-received. He is known for his practical, non-ideological approach to economic issues and his understanding of how Trump’s economic policies contributed to the success of his first term.

Bessent gained valuable experience working under George Soros in 1992, and has since developed a perspective that contrasts with the economic ideas prevalent on the left. He has advocated for Trump’s economic agenda, highlighting the benefits of tax reform, deregulation, and fair trade.

In a recent interview with the Wall Street Journal, Bessent reiterated his support for Trump’s agenda and outlined a vision for boosting oil production, increasing economic growth, and reducing the federal budget deficit.

This vision aims to provide cheaper energy, create more jobs, and minimize inflation, representing a departure from the policies of the Biden administration and a commitment to the well-being of American workers.