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. If confirmed, Bessent would be the first openly gay Treasury Secretary. He is known for advocating deficit reduction and has a background in hedge funds. Vought previously held the budget position during Trump’s first term. Bessent aims to address the U.S. national debt through spending cuts.