The U.S. Senate has confirmed billionaire investor Scott Bessent as President Donald Trump’s treasury secretary.

The U.S. Senate confirmed billionaire investor Scott Bessent on Monday to become the next Treasury secretary and enact the Trump administration's economic agenda of tax cuts and tariffs.

Scott Bessent, a billionaire hedge fund manager, will lead President Donald Trump 's financial agenda as treasury secretary. Bessent was confirmed in a 68-29 U.S. Senate vote on Monday and sworn in on Tuesday. It is his first time overseeing a sprawling organization or working in government, The New York Times reported .