WASHINGTON (Reuters) – Scott Bessent, U.S. President Donald Trump’s pick to head the Treasury Department, vowed on Wednesday to ensure the dollar remains the world’s reserve currency as he laid out a vision for a “new economic golden age.”
Bessent, who faces questioning before the US Senate Finance Committee on Thursday, said in prepared testimony that the new Trump administration must prioritize productive investments that grow the economy over “wasteful spending that drives inflation.”
“We must secure supply chains that are vulnerable to strategic competitors, and we must carefully apply sanctions as part of a whole-of-state approach to meet national security requirements,” Bessent said in remarks.
“And most importantly, we must ensure that the US dollar remains the world’s reserve currency.”
