Donald Trump has nominated Scott Bessent to lead the US Treasury Department, one of the most influential roles in government with wide oversight of tax policy, public debt, international finance and sanctions.

President-elect Donald Trump said he is nominating Scott Bessent, who runs macro hedge fund Key Square Group, as the next US Treasury Secretary, enlisting a key adviser to manage the sweeping economic agenda he has vowed to enact in a second term.

Donald Trump has nominated Scott Bessent to lead the US Treasury Department, a post with wide oversight of tax policy, public debt, international finance and sanctions. The selection ends what has proven to be one of the more protracted decisions for the president-elect as he assembles his team for a second term.