Trump nominates Scott Bessent as Treasury Secretary and Russel Vought for budget office role

President-elect Donald Trump has nominated Scott Bessent as Treasury Secretary. Bessent, a former money manager for George Soros, supports deficit reduction and founded Key Square Capital Management. If confirmed, he would be the first openly gay Treasury Secretary. Trump also nominated Russel Vought to lead the Office of Management and Budget. Vought previously held this position during Trump's first term. Both nominations signal a focus on reducing the national debt and government spending.