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.

Ensuring the US doesn’t default on its obligations. Extending trillions of dollars in tax cuts before they expire. Quarterbacking President-elect Donald Trump’s plans for the economy.

Trump's nominee to run the Treasury faces a tall order—dealing with mounting debt, implementing an aggressive tariff regime, and navigating a thorny relationship with the Federal Reserve.