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President-elect Donald Trump has nominated Scott Bessent, a prominent Wall Street financier and former aide to George Soros, to lead the US Treasury Department.
The appointment, announced Friday evening, concludes one of the more drawn-out decisions as Trump finalizes his team ahead of his second term in January.
Bessent, 62, brings a traditional financial background and deep experience in international finance to a role with sweeping influence over US tax policy, public debt, global economic relations, and sanctions.
A longtime advocate of Trump’s “America First” agenda, Bessent was an early supporter of Trump’s 2024 campaign, frequently touting policies of deregulation, low-cost energy, and tax cuts.
“Scott is widely respected as one of the world’s foremost international investors and economic strategists,” Trump wrote on Truth Social. “He will support my policies to drive U.S. competitiveness and stop unfair trade imbalances.”
Bessent’s nomination is seen as a stabilising move, with his extensive experience positioning him as a relatively conventional choice for a key economic role in Trump’s administration.
The Treasury announcement was one of several high-profile nominations Trump made Friday. Some of them include, Lori Chavez-DeRemer was named Labor Secretary. The Oregon Republican and former congresswoman is tasked with growing wages, improving working conditions, and revitalising U.S. manufacturing jobs.
Chavez-DeRemer, 56, narrowly lost her reelection bid earlier this month, meaning her nomination will not impact the GOP’s majority in the House.
Scott Turner, an NFL veteran and former Texas state representative, was tapped to lead the Department of Housing and Urban Development.
Turner has a track record of addressing housing disparities and revitalizing underserved communities.
Dr. Janette Nesheiwat and Dr. Dave Weldon were selected for key public health roles. Nesheiwat, a Fox News contributor, will serve as Surgeon General, while Weldon, a former Florida congressman, will lead the Centers for Disease Control and Prevention (CDC).
Russell Vought, who previously served as the Office of Management and Budget (OMB) director under Trump, will return to the position. Vought is known for his role in Project 2025, a conservative policy blueprint prepared for a potential second Trump administration.
Trump also named Alex Wong and Sebastian Gorka to senior White House roles. Both served in his first administration and are expected to play key parts in shaping foreign and domestic policy.
The flurry of appointments solidifies Trump’s top team ahead of his return to the White House.
Chioma Kalu
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