Trump nominates Bessent to be treasury secretary [Video]

Washington –

President-elect Donald Trump announced Friday that he’ll nominate hedge fund manager Scott Bessent, an advocate for deficit reduction, to serve as his next treasury secretary.

Trump also said he would nominate Russel Vought to lead the Office of Management and Budget, a position Vought held during Trump’s first presidency. Vought was closely involved with Project 2025, a conservative blueprint for Trump’s second term that he tried to distance himself from during the campaign.

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The dual announcements Friday evening showed how Trump was fleshing out the financial side of his new administration. Although Bessent is closely aligned with Wall Street and could earn bipartisan support, Vought is known as a Republican hardliner.

Trump said Bessent would “help me usher in a new Golden Age for the …