With Scott Bessent, consumers eyeing prices and interest rates are getting a Treasury secretary pick who is deeply aware of the big-picture forces pushing and pulling those everyday costs, experts say.

If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.

The Dow and S&P 500 reached all-time highs, while the dollar weakened on Monday following the news that President-elect Donald Trump has tapped Wall Street’s Scott Bessent to be his next Treasury Secretary.

President-elect Donald Trump's nominee for U.S. Treasury secretary, Scott Bessent, will prioritize delivering on election tax cut pledges, he told the Wall Street Journal in an interview published on Sunday.

President-elect Donald Trump has selected investor Scott Bessent as his nominee for Treasury secretary, putting forth a campaign trail partner and early frontrunner for the job after a long and contentious process. The contest for Treasury secretary has emerged as a key stumbling block in Donald Trump's presidential transition period.

The Dow Jones Industrial Average jumped 440 points to a record close on Monday after President-elect Donald Trump’s pick for Treasury secretary, Scott Bessent, laid out his priorities – including tax cuts.