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.

Scott Bessent is a hedge fund manager who investors believe will balance Trump's economic promises with fiscal reality as treasury secretary.

Yields on 10-year treasuries slipped to their lowest in nearly a month after Trump's selection of a top cabinet post allayed some investor concerns that the new president would aggressively raise tariffs,