President-elect Donald Trump will nominate Scott Bessent to be his Treasury secretary, offering the hedge fund manager and major campaign fundraiser the preeminent economic post in his administration.

Bessent, if confirmed, would be the first out member of the LGBTQ+ community to lead the department. His nomination still doesn't mean Trump is an ally, however.

President-elect Donald Trump on Friday said he will nominate prominent investor Scott Bessent as U.S. Treasury secretary, ending days of twists that saw high profile candidates pitted against each other for the cabinet position with vast influence over economic,