Trump Names Scott Bessent as Treasury Secretary

President-elect Donald Trump has nominated Scott Bessent to lead the U.S. Department of the Treasury, ending days of speculation after other names emerged as competitors to the reported favorite. “Scott is widely respected as one of the world’s foremost international investors and geopolitical and economic strategists. Scott’s story is that of the American Dream,” Trump said in a statement on the nomination. Bessent, 62, is a Wall Street veteran and founder of international macro investment company Key Square Group. He served as a key economic adviser to Trump’s 2024 campaign. Others rumored as contenders for the role included Howard Lutnick, 63, the chairman and CEO of investment giants Cantor Fitzgerald and BGC Partners. He co-chairs the Trump–Vance transition team, which is in charge of selecting administration candidates, vetting personnel, and crafting policy. Lutnick was ultimately chosen to lead the Department of Commerce....