Trump Picks Scott Bessent for Treasury Secretary

President-elect Donald Trump has selected hedge-fund manager Scott Bessent to lead the Treasury Department, “elevating one of the finance world’s most vocal supporters of the president-elect to a crucial position overseeing the incoming administration’s economic agenda,” the Wall Street Journal reports.

“Bessent in recent months has become a key economic adviser to Trump and his team. He has defended Trump’s economic proposals in the midst of opposition from some on Wall Street, who worry that the president-elect’s pledge to impose sweeping tariffs will trigger trade wars and ultimately lead to higher prices for American consumers.”