Trump plans to appoint Scott Bessent as U.S. Treasury Secretary, sources say

President-elect Donald Trump is expected to appoint Scott Bessent as U.S. Treasury Secretary, according to sources. Bessent, a prominent investor, was chosen from a competitive list of candidates, including Marc Rowan and Kevin Warsh. Bessent's role will involve managing the U.S. economy, overseeing tax collection, and handling the national debt. He has previously advocated for tax reform and deregulation, which he believes will boost economic growth. Bessent will face challenges, including rising federal deficits and managing U.S. financial support for Ukraine amid Trump's differing priorities. His approach may contrast with that of current Treasury Secretary Janet Yellen, particularly regarding climate change policies.