Trump nominates hedge fund billionaire Scott Bessent to lead U.S. Treasury

Donald Trump has nominated Scott Bessent, a hedge fund manager and fundraiser, to lead the U.S. Treasury. This decision ends speculation about the position, which is crucial for economic policy. Bessent, founder of Key Square Capital Management, has been a supporter of Trump’s policies. He previously worked as chief investment officer at Soros Fund Management. Bessent's nomination follows a competitive selection process, with other candidates like Howard Lutnick also considered. Bessent is the fifth billionaire nominated for a Cabinet position in Trump's administration.