Trump's Treasury Pick Promises Wage Growth

Scott Bessent, nominated for the Treasury Department, asserts that President-elect Donald Trump's policies will reduce inflation and boost workers' wages. Bessent assured the U.S. Senate Finance Committee that the policies are aimed at achieving the Federal Reserve's 2% inflation target, similar to previous measures.

Scott Bessent, chosen to lead the Treasury Department, announced that U.S. President-elect Donald Trump's policies are designed to reduce inflation and increase workers' wages.

In his address to the U.S. Senate Finance Committee, Bessent expressed confidence that the measures would replicate the economic successes of Trump's previous term, aligning inflation with the Federal Reserve's 2% goal.

When questioned about the potential impact on household prices, Bessent stated he had no immediate concerns about Trump's planned policies causing price hikes for families.

(With inputs from agencies.)