Bessent spent his career in finance and gives Wall Street an advocate for tax reform and deregulation. Some call his nomination a 'relief' and say it could reduce the chance of severe tariffs.

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 Donald Trump launched a blitz of picks for his Cabinet, but he took his time before settling on billionaire investor Scott Bessent as his treasury secretary nominee.The Republican not only wanted someone who jibes with him,