Trump nominates South Carolina hedge fund manager Scott Bessent for Treasury Secretary

President-elect Donald Trump has nominated Scott Bessent, a billionaire hedge fund manager from South Carolina, to lead the U.S. Department of Treasury. This decision follows a week of speculation about Bessent's candidacy amid competition from other potential nominees. Bessent, 62, has been a close advisor to Trump and a critic of President Biden's economic policies. His nomination comes after concerns about his ties to George Soros, but support from South Carolina senators has bolstered his position. The Senate, controlled by Republicans, is expected to confirm Bessent, who is seen as a mainstream choice. His nomination reflects Trump's commitment to an "America First" economic agenda.