Business leaders say they are relieved ­President-elect Donald Trump made a safe choice to lead the Department of Treasury after more unconventional selections to other cabinet posts. Hedge fund executive Scott Bessent survived an internal squabble over the role of Treasury secretary,

President-elect Trump's nominee to serve as Treasury secretary, Scott Bessent, has a 3-3-3 plan that aims to curb budget deficits while spurring economic growth and energy production.

From his years working for George Soros to his role as a key economic advisor to Trump, Bessent has extensive if contradictory Wall Street experience.

Bessent of the Key Square Group is considered a more market-oriented type that advocates deregulation and the development of the economy. Consistent with Trump's economic policy direction, his other positions include the gradual introduction of tariffs and standing down on regulations,

The hedge fund investor predicted last year that President-elect Donald J. Trump’s political fortunes were on the rise.

Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.

Bessent spent his career in finance and gives Wall Street an advocate for tax reform and deregulation. Some call his nomination a 'relief' and say it could reduce the chance of severe tariffs.