Trump selects Scott Bessent as treasury secretary after careful consideration

President-elect Donald Trump has quickly selected several Cabinet members but took longer to choose Scott Bessent as treasury secretary. Bessent, a billionaire investor, is expected to help implement Trump's economic policies, including tax cuts and trade reforms. Bessent's nomination contrasts with Trump's usual rapid decisions for other positions, reflecting the importance of the treasury role amid rising inflation. Critics, including Senator Ron Wyden, have expressed concerns about Bessent's wealth and potential influence on economic policy. Trump's economic plans include extending tax cuts and addressing trade imbalances, but there are uncertainties about how these will impact the national deficit. Bessent's selection may also lead to tensions with the Federal Reserve regarding inflation management.