Trump plans to nominate Scott Bessent as treasury secretary

President-elect Donald Trump plans to nominate Scott Bessent as his treasury secretary. Bessent is a seasoned hedge fund investor and former Yale lecturer, according to reports from Bloomberg and the Wall Street Journal. Bessent has previously advocated for tax reform and deregulation to boost bank lending and energy production. His nomination comes as Wall Street anticipates changes in global trade policies under Trump. He would succeed Janet Yellen, the current treasury secretary, who was the first woman to hold the position. Bessent's appointment continues a trend of selecting financial experts for the role.