Trump nominates Bessent for Treasury Secretary and Vought for budget chief

President-elect Donald Trump has nominated Scott Bessent to be the next Treasury Secretary and Russel Vought to lead the Office of Management and Budget. Bessent, a former money manager for George Soros, advocates for reducing the national debt. If confirmed, Bessent would be the first openly gay Treasury Secretary. He has emphasized the need to cut government spending to address the growing U.S. national debt. Vought previously held the budget office position during Trump's first term. Both nominations are part of Trump's efforts to shape his administration ahead of taking office.