Trump names Bessent to serve as Treasury Secretary

President-elect Trump has chosen hedge fund manager Scott Bessent to serve as his next treasury secretary. Bessent, who is closely aligned with Wall Street, has defended Trump’s tariff policies and is an advocate for deficit reduction. As Treasury secretary, he would be a key leader on the president-elect’s economic team. Bessent’s selection wasn’t surprising; he had been among the names floated for the role and he was described by Trump as “one of the top analysts on Wall Street.” If confirmed by the Senate, he would be the nation’s first openly gay treasury secretary.