The hedge fund manager will be responsible for steering President-elect Donald J. Trump’s unconventional economic agenda.

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

If confirmed, Bessent will be tasked with implementing any tax cuts a Republican-controlled Congress may pursue.

The hedge fund investor predicted last year that President-elect Donald J. Trump’s political fortunes were on the rise.

Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.

President-elect Trump nominated Scott Bessent, the founder and CEO of global macro investment firm Key Square Group, for treasury secretary.

President-elect Donald Trump named billionaire Scott Bessent as his pick to serve as the next secretary of the Department of the Treasury.

President-elect Donald Trump has selected investor Scott Bessent as his nominee for Treasury secretary, putting forth a campaign trail partner and early frontrunner for the job after a long and contentious process. The contest for Treasury secretary has emerged as a key stumbling block in Donald Trump's presidential transition period.

When Donald Trump announced Friday that hedge fund manager Scott Bessent was his pick for Treasury secretary, there was a massive sigh of relief from the markets, with the yield on the 10-year Treasury falling sharply (a sign that investors think Bessent will help keep inflation cool) and the stock market getting a little bump.