Trump selects Scott Bessent as Treasury secretary nominee

Scott Bessent, a billionaire hedge fund manager, has been selected by Donald Trump to lead the Department of Treasury. Bessent has advised Trump on economic policy and has been involved in fundraising for his campaign. His appointment requires Senate approval. The announcement was delayed due to disagreements among Trump's advisers about the selection. Bessent, 62, has over 35 years of experience in finance, including roles at Soros Fund Management and other investment firms. He is seen as a moderate choice by economists. Bessent has proposed a three-point economic plan focused on deregulation, energy production, and inflation control. His selection has drawn mixed reactions, with some, including Elon Musk, suggesting alternative candidates for the position.