Trump picks Scott Bessent as Treasury secy, Vought as top budget official

President-elect Donald Trump announced Friday that he'll nominate former George Soros money manager Scott Bessent, an advocate for deficit reduction, to serve as his next treasury secretary.

Trump also said he would nominate Russel Vought to lead the Office of Management and Budget, a position Vought held during Trump's first presidency.

Bessent, 62, is the founder of hedge fund Key Square Capital Management, after having worked on-and-off for Soros Fund Management since 1991. If confirmed by the Senate, he would be the nation's first openly gay treasury secretary.

He told Bloomberg in August that he decided to join Trump's campaign in part to attack the mounting US national debt. That would include slashing government programs and other spending.

 

This election cycle is the last chance for the US to grow our way out of this mountain of debt without becoming a sort of European-style socialist democracy, he said then.  Trump chooses Republican Lori Chavez-DeRemer as his nominee to lead Labour Department

President-elect Donald Trump has chosen Republican US Rep. Lori Chavez-DeRemer as his nominee to lead the Labour Department.

The Oregon House member who narrowly lost her reelection bid earlier this month received strong backing from union members in her district.

As a potential labour secretary, Chavez-DeRemer would oversee the Labour Department's workforce and its budget and put forth priorities that impact workers' wages, health, safety and ability to unionise, and employers' rights to fire employees, among other responsibilities.

Lori's strong support from both the Business and Labour communities will ensure that the Labour Department can unite Americans of all backgrounds behind our Agenda for unprecedented National Success - Making America Richer, Wealthier, Stronger and more Prosperous than ever before! Trump said in a statement.