Trump selects Scott Bessent as treasury secretary after lengthy consideration

President-elect Donald Trump has quickly selected many Cabinet members but took longer to choose Scott Bessent as treasury secretary. Bessent, a billionaire investor, is expected to help shape Trump's economic policies, including tax cuts and trade adjustments. Bessent's nomination contrasts with Trump's usual rapid decisions for other positions, reflecting the importance of the economy in his campaign. Critics, including Senate Finance Committee Chair Ron Wyden, have questioned the choice, suggesting it favors wealthy donors. Bessent has criticized President Biden's economic policies and aims for significant growth and reduced deficits. Trump's economic plans remain uncertain, with potential conflicts anticipated between his administration and the Federal Reserve regarding inflation management.