Trump Team Prepares to Announce Bessent as Treasury Pick (1)

President-elect Donald Trump’s transition team is preparing to announce that he has selected Scott Bessent, who runs macro hedge fund Key Square Group, as the next US Treasury secretary, according to people familiar with the matter.

The announcement is expected to be made as soon as Friday, said the people, who spoke on condition of anonymity to discuss the process, and a press release is being prepared.

Bessent, 62, served as a key economic adviser to Trump during the campaign, promoting his agenda and crafting policy speeches. If confirmed by the Senate — which will be in ...