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.

In the second MAGA Administration, the hedge-fund manager Scott Bessent will have the job of acting as a voice of reason.

The Dow and S&P 500 reached all-time highs, while the dollar weakened on Monday following the news that President-elect Donald Trump has tapped Wall Street’s Scott Bessent to be his next Treasury Secretary.