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,

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,

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.

Investors seemed to signal their approval for Scott Bessent as a safe choice to implement the president-elect’s economic agenda.

If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.

President-elect Donald Trump named billionaire Scott Bessent as his pick to serve as the next secretary of the Department of the Treasury.

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.