WASHINGTON — US President-elect Donald Trump unveiled several key appointments on Friday, including billionaire hedge fund manager Scott Bessent as his nominee for treasury secretary.
Bessent, an advocate for deficit reduction and founder of Key Square Capital Management, would become the nation’s first openly gay treasury secretary if confirmed.
Trump also announced Russell Vought as his pick to lead the Office of Management and Budget (OMB), a role he previously held during Trump’s first term. Known for his conservative budget priorities, Vought was involved in crafting “Project 2025,” a policy framework for Trump’s second term.
Bessent’s nomination signals Trump’s intent to blend Wall Street expertise with his populist economic agenda.
Trump described Bessent as instrumental in ushering in “a new Golden Age for the United States.” Bessent, 62, is known for his focus on tackling national debt and has backed extending provisions of the 2017 Tax Cuts and Jobs Act, despite its estimated multitrillion-dollar cost over a decade.
Bessent has also expressed support for using tariffs, particularly against China, as a foreign policy tool, and has floated controversial ideas about pressuring Federal Reserve Chair Jerome Powell.
Vought, meanwhile, is a hardliner on budget and cultural issues. His proposed spending reductions total $11.3 trillion over 10 years, targeting Medicaid, Medicare, and the Affordable Care Act. Trump praised Vought for his ability to “dismantle the Deep State and end Weaponized Government.”
Trump named Rep. Lori Chavez-DeRemer of Oregon as his labor secretary. A rare pro-union Republican, she is expected to bring bipartisan appeal. For housing secretary, Trump chose Scott Turner, a former football player and previous member of his administration.
In health appointments, Trump tapped Dr. Janette Nesheiwat as surgeon general, Dr. Dave Weldon to lead the CDC, and Dr. Marty Makary to head the FDA. These additions round out his health team, which already includes Robert F. Kennedy Jr. as health secretary.
Trump also announced Alex Wong as principal deputy national security adviser and Sebastian Gorka as senior director for counterterrorism, signaling his focus on bolstering national security.
In less than three weeks since his election victory, Trump has filled most of his Cabinet, emphasizing speed and decisiveness. — Agencies