Trump nominates Scott Bessent as treasury secretary

President-elect Donald Trump has nominated hedge fund manager Scott Bessent for the position of treasury secretary. Bessent previously worked at Soros Fund Management and founded Key Square Group, which focuses on macroeconomic investments. Bessent has been a significant fundraiser for Trump, hosting events that raised over $50 million for the campaign. Trump stated that Bessent will help strengthen the U.S. Dollar and reduce national debt. The treasury secretary also serves on the National Security Council. Bessent's nomination requires Senate confirmation.