Donald Trump picks billionaire Scott Bessent for Treasury secretary

US President-elect Donald Trump has nominated hedge-fund manager Scott Bessent as US Treasury Secretary. The 62-year-old is an advocate for tax reform and deregulation, particularly to encourage more bank lending and energy production. Trump said he was "most pleased" to nominate him as the 79th Secretary of the Treasury of the United States, describing him as an example of the American Dream coming true.