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.

Trump's nominee to run the Treasury faces a tall order—dealing with mounting debt, implementing an aggressive tariff regime, and navigating a thorny relationship with the Federal Reserve.

Bessent is married to his husband, John Freeman. Freeman is a former New York City prosecutor. Bessent and his husband, Freeman, reportedly share two children together. The family keeps their personal life away from the public eye. As of 2024, Bessent has a net worth of $1 billion, according to Celebrity Net Worth.