Trump announces key financial appointments including Bessent as treasury secretary

President-elect Donald Trump has announced key financial appointments for his upcoming administration. He nominated Scott Bessent, a hedge fund manager, as treasury secretary, Russel Vought as budget chief, and Rep. Lori Chavez-DeRemer as labor secretary. Bessent, known for advocating deficit reduction, would be the first openly gay treasury secretary if confirmed. Vought returns to the Office of Management and Budget after serving in Trump's first term, focusing on conservative fiscal policies. These selections mark a shift towards a more Wall Street-friendly approach with Bessent, while Vought's nomination reflects a commitment to conservative budget cuts and government reform.