President-elect Donald Trump will nominate Scott Bessent to be his Treasury secretary, offering the hedge fund manager and major campaign fundraiser the preeminent economic post in his administration.

Two and a half weeks after the election and more than a week since it first seemed as if an announcement about a choice of treasury secretary was coming, Donald Trump has finally made his decision. On November 22nd the campaign said that Scott Bessent,

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

Here's what to know about the Treasury secretary pick Bessent, who beat out a crowded field including former Fed official Kevin Warsh and billionaire Marc Rowan.

Investor Scott Bessent has spent his career in finance, working for macro investment billionaire George Soros and noted short seller Jim Chanos, as well as running his own hedge fund.

Scott Bessent, who prevailed after an intense lobbying effort by his allies, emerged over the past year as a trusted Trump adviser.

Gary Cohn, former chief economic advisor to President Donald Trump, says Trump still has time to get his pick for Treasury secretary right. Hedge fund executive Scott Bessent, Apollo Global Management Inc.

President-elect Donald Trump on Friday said he will nominate prominent investor Scott Bessent as U.S. Treasury secretary, ending days of twists that saw high profile candidates pitted against each other for the cabinet position with vast influence over economic,