President-elect Donald Trump has nominated billionaire hedge fund manager Scott Bessent as his Treasury Secretary, a nomination that has garnered positive reactions from Wall Street. However, Bessent is poised to confront complex economic challenges upon assuming the role.

Yahoo Finance Washington correspondent Ben Werschkul analyzes the top challenges Bessent will likely face in this position, including policies regarding taxes and tariffs, while dealing with issues stemming from the Federal Reserve.

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This post was written by Angel Smith