President-elect Donald Trump will nominate Scott Bessent to be his Treasury secretary, offering the hedge fund manager and major campaign fundraiser the preeminent economic post in his administration.

Here's what to know about the Treasury secretary pick Bessent, who beat out a crowded field including former Fed official Kevin Warsh and billionaire Marc Rowan.

The president-elect has selected the hedge-fund manager to lead the Treasury, elevating one of his most vocal supporters in the finance world.