Trump Heeds Wall Street by Picking Bessent as Treasury Secretary

With one cabinet pick after another, President-elect Donald Trump has shown willingness — even eagerness — to flash contempt for the establishment. His nominees have amounted to sneers at US military brass, public-health experts, or even lawmakers in his own party.

But there’s at least one institution that Trump is reticent to rile: Wall Street.

Trump said Friday that he had chosen Scott Bessent for Treasury secretary, turning to the hedge fund executive to serve in a post with oversight of the massive US government debt market, tax collection and economic sanctions.

Scott Bessent

Photographer: Vincent Alban/Bloomberg

Bessent has deep familiarity with global financial systems and ...