Trump plans to nominate hedge fund manager Scott Bessent as U.S. Treasury secretary
scmp.com —
President-elect Donald Trump plans to nominate Scott Bessent, a hedge fund manager, as the next U.S. Treasury secretary. This role is crucial for implementing a tough economic strategy against China. Trump's transition team is moving quickly to announce cabinet picks, unlike typical administrations. Other nominees include Senator Marco Rubio for secretary of state and Peter Hegseth for defense secretary. Bessent's selection reflects Trump's focus on loyalty and support for his pro-tariff policies. The decision process for this position took longer as Trump sought a candidate who would also be accepted by Wall Street.