Bessent is a native of Conway, South Carolina.
Trump also said he would nominate Russell Vought to lead the Office of Management and Budget, the same position he held during Trump’s first presidency. Vought was closely involved with Project 2025, a conservative blueprint for Trump’s second term that the GOP nominee tried to distance himself from during the campaign.
The announcements showed how Trump was trying to balance competing perspectives as he pursues an aggressive and sometimes contradictory economic agenda that includes cutting taxes, reducing government spending, putting tariffs on foreign imports and lowering prices for American consumers.
Trump said Bessent would “help me usher in a new Golden Age for the United States,” while Vought “knows exactly how to dismantle the Deep State and end Weaponized Government.”
After announcing his choices for key financial posts, Trump kept up the pace of what has been a breakneck transition process.
Trump picked Rep. Lori Chavez-DeRemer of Oregon, a rare Republican who is considered a …