President-elect Donald Trump announced Friday that he'll nominate billionaire hedge fund manager Scott Bessent, an advocate for deficit reduction , to serve as his next treasury secretary, one of several personnel decisions that he unveiled as he closed out the workweek.
Trump also said he would nominate Russell Vought to lead the Office of Management and Budget, the same position he held during Trump's first presidency. Vought was closely involved with Project 2025 , a conservative blueprint for Trump's second term that the GOP nominee tried to distance himself from during the campaign.
The announcements showed how Trump was trying to balance competing perspectives as he pursues an aggressive and sometimes contradictory economic agenda that includes cutting taxes, reducing government spending, putting tariffs on foreign imports and lowering prices for American consumers.
Although Bessent is closely aligned with Wall Street and could earn bipartisan support, Vought is known as a Republican hardliner on budget and cultural issues.
Trump said Bessent would "help me usher in a new Golden Age for the United States," while Vought "knows exactly how to dismantle the Deep State and end Weaponized Government."
