The U.S. Senate confirmed billionaire investor Scott Bessent on Monday to serve as President Donald Trump's treasury secretary, giving him the delicate balancing act of cutting taxes and curbing deficits while putting forward a plan on tariffs that doesn't jeopardize growth.

The first openly gay person in the role has the delicate balancing act of cutting taxes and curbing deficits while putting forward a plan on tariffs that doesn’t jeopardize growth.

Scott Bessent was sworn in as Treasury Secretary on Tuesday, taking the helm of one of the government agencies most critical to President Donald Trump’s sweeping economic agenda.