Trump nominates Bessent for Treasury Secretary and Vought for budget chief

President-elect Donald Trump has nominated Scott Bessent as Treasury Secretary. Bessent, a former money manager for George Soros, advocates for reducing the national debt and has founded Key Square Capital Management. If confirmed by the Senate, Bessent would be the first openly gay Treasury Secretary. He has expressed a commitment to cutting government spending to address the U.S. national debt. Trump also nominated Russell Vought as the top budget official. Vought previously served as acting director of the Office of Management and Budget.