Trump Taps Wall Street Veteran and Budget Hawk for Key Economic Posts
Staff Editor Trump Unveils Key Cabinet Nominations, Signaling Economic Priorities
President-elect Donald Trump has announced several key nominations for his incoming administration, highlighting his focus on economic policy and deficit reduction. Scott Bessent, founder of Key Square Capital Management, has been tapped for Treasury Secretary, while Russell Vought, former head of the Office of Management and Budget (OMB), has been nominated to reprise his role.
Bessent, who would become the first openly gay Treasury Secretary if confirmed, is known for his advocacy of addressing the national debt and extending the Tax Cuts and Jobs Act of 2017. His Wall Street background and previous donations to Democratic causes suggest potential for bipartisan support.
Vought, a Republican hardliner, founded the Center for Renewing America and has proposed significant spending reductions and tax cuts aimed at achieving a budget surplus by 2032. His plan includes cuts to various social programs and emphasizes reducing government overreach.
Trump’s economic agenda, as outlined by these nominations, includes tax cuts, reduced spending, strategic use of tariffs, and efforts to lower consumer prices.
In other key appointments, Rep. Lori Chavez-DeRemer has been nominated as Labor Secretary, notable for her support of union rights and the PRO Act. Trump stated his aim to unite Americans behind a successful national agenda through these selections.
The President-elect also announced health and national security appointments, including Dr. Janette Nesheiwat as Surgeon General, Dr. Dave Weldon to lead the CDC, and Dr. Marty Makary as head of the FDA. Robert F. Kennedy Jr. had previously been announced as Health Secretary.
These nominations provide insight into Trump’s policy priorities and the direction he intends to take in his potential second term.
