Trump Announces Nominations for Treasury, Labor

Donald Trump has nominated Scott Bessent to serve as secretary of the Treasury and Rep. Lori Chavez-DeRemer (R-OR) for secretary of labor. 

Bessent, who has been one of Donald Trump’s major donors and economic advisors, is the founder of Key Square Capital Management. He also served as the chief investment officer for Soros Fund Management from 2011 to 2015. The Treasury pick may also reveal Trump’s intentions for trade policy and tariffs; Bessent has argued for the use of tariff imposition as a means of extracting better trade terms from economic partners.

The nominee to fill head the Department of Labor, Chavez-DeRemer, is a favorite of Sean O’Brien, the president of the Teamsters Union. She lost her bid for reelection by a small margin, and so her nomination will not require a special election to fill her seat in the House.