President-elect Donald Trump has nominated Scott Bessent to lead the US Treasury Department, a move that signals his continued focus on economic policy and global finance. Bessent, a former Wall Street financier and longtime supporter of Trump, is set to take the helm of one of the most influential roles in the US government, overseeing tax policy, public debt, international finance, and sanctions.
The nomination marks the end of a prolonged selection process for the Treasury Secretary, with Bessent emerging as a clear favorite after several months of speculation. A well-established figure in financial circles, Bessent’s credentials include a background at George Soros’s investment firm and years of experience as a global investor. He is widely regarded as one of the world’s foremost international investors and geopolitical strategists.
In his announcement, Trump praised Bessent’s expertise, calling him “one of the world’s foremost international investors and geopolitical and economic strategists.” He highlighted Bessent’s strong advocacy for the “America First” agenda, positioning him as a staunch ally in Trump’s ongoing effort to reshape the American economy. Trump emphasized that Bessent’s appointment would help drive US competitiveness and address unfair trade imbalances, particularly through measures such as import tariffs a strategy Bessent has previously defended as a “useful negotiating tool.”
Bessent has made it clear that his economic priorities align closely with Trump’s agenda. He has expressed a desire to extend the tax cuts implemented during Trump’s first term and continues to support deregulation as a means of boosting business growth. During his campaign appearances, Bessent underscored a vision for the future of the United States that includes low taxes, low-cost energy, and a robust, deregulated economy, echoing Trump’s promises from 2016 of ushering in a “new golden age.”
The nomination of Bessent comes alongside a flurry of other cabinet picks. Trump also nominated Republican Congresswoman Lori Chavez-DeRemer from Oregon as Secretary of Labor, a role in which she is expected to focus on improving wages, working conditions, and the revival of American manufacturing jobs. Chavez-DeRemer, who won strong trade union support but narrowly lost her re-election bid, will not impact the Republican majority in the House, ensuring continuity in the legislative body.
Additionally, Trump nominated Scott Turner to head the Department of Housing and Urban Development (HUD). Turner, an NFL veteran and motivational speaker, previously served in the Texas House of Representatives, bringing a mix of sports leadership and political experience to the position. Turner’s nomination follows a broader theme of tapping individuals with diverse backgrounds, reinforcing Trump’s commitment to bolstering America’s infrastructure and housing sectors.
In healthcare, Trump has proposed several new leadership appointments, including Dr. Janette Nesheiwat, a Fox News contributor, as Surgeon General, and Dr. Dave Weldon, a former Florida Congressman, to head the Centers for Disease Control and Prevention (CDC). These selections reflect Trump’s focus on healthcare reforms, which have remained a central issue throughout his political career. Additionally, he has reappointed Russel Vought as the director of the Office of Management and Budget, a role he held during Trump’s first term and one that will be key in shaping fiscal policy and government spending priorities.
Another significant announcement was the return of key Trump administration veterans, including Alex Wong and Sebastian Gorka, who will take up roles in the White House once again. Both figures played central roles during Trump’s first term and are expected to continue advancing the president-elect’s foreign policy and national security agendas.
As Trump moves closer to his inauguration, the pace of his cabinet announcements has accelerated. With Bessent and a range of other nominees, Trump is putting the finishing touches on his team, signaling a clear direction for his second term focused on economic growth, national security, and regulatory reform. The strategic nature of these appointments, particularly the selection of Bessent for Treasury, reflects Trump’s emphasis on reasserting America’s dominance on the global stage and ensuring his administration’s policies remain aligned with his populist vision.
