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’s Treasury secretary pick stands in stark contrast to some of the more controversial and questionable Cabinet picks he’s announced so far. Scott Bessent won’t freak out Wall Street,