Here's what to know about the Treasury secretary pick Bessent, who heads into his confirmation hearing and may become the first Senate-approved LGBTQ+ member in a Republican cabinet.

The hedge fund manager and Trump advisor also lent support to the idea of reconsidering deposit insurance limits for some kinds of accounts, such as those used for payrolls.

Scott Bessent, Donald Trump's nominee for Treasury Secretary, said during a confirmation hearing Thursday that he is "perplexed" that the Biden administration did not impose more sanctions and tariffs on Russia's economy.

The stakes have never been higher, but with Bessent at the helm of the Trump economic team, a brighter future is within reach.

Hedge fund executive Scott Bessent will face a Senate confirmation hearing for Treasury secretary on Thursday, which could make him the first openly gay cabinet member of a Republican administration.

Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.

Nominee for U.S. Treasury secretary, Scott Bessent, is expected to declare during his confirmation that Trump will usher in "a new economic golden age."

The fund manager will face senators at a confirmation hearing on Thursday

Senate Finance Committee Chairman Mike Crapo on Wednesday said he is hoping a full Senate confirmation vote for U.S. President Donald Trump's pick as Treasury secretary, Scott Bessent, could occur next week.

Treasury Secretary nominee Scott Bessent Scott Bessent is Trump's nominee to be secretary of the treasury. We already knew he was wealthy, but the hedge fund manager's disclosure helped fill in some of the blanks. At the very least, he's worth a little ...

Scott Bessent's critic in Catherine Rampell is too pessimistic, while Bessent is arguably not optimistic enough.