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.

The president-elect has selected the hedge-fund manager to lead the Treasury, elevating one of his most vocal supporters in the finance world.

President-elect Donald Trump chose Scott Bessent to lead the Treasury Department late Friday evening. “I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States,