President-elect Donald Trump has nominated Scott Bessent, a hedge fund manager and his longtime economic advisor, for the position of Treasury Secretary. If confirmed, Bessent, who is married to former New York City prosecutor John Freeman,

Wall Street analysts believe Bessent will encourage Trump to roll back his aggressive plans for imposing tariffs on imported goods.

If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.