If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.

President-elect Donald Trump has chosen hedge fund manager Scott Bessent, an advocate for deficit reduction, to serve as his next treasury secretary.

President-elect Donald Trump on Friday said he will nominate prominent investor Scott Bessent as U.S. Treasury secretary, ending days of twists that saw high profile candidates pitted against each other for the cabinet position with vast influence over economic,