Trump names Scott Bessent as Treasury Secretary, rejects Musk's pick
What's the story
President-elect Donald Trump has selected hedge fund veteran Scott Bessent as his Treasury Secretary.
The decision was taken after a meeting at Mar-a-Lago and confirmed by CNN.
Bessent, founder of Key Square Group and former chief investment officer at Soros Fund Management, is known for supporting Trump's economic policies.
The appointment comes even though Tesla CEO Elon Musk endorsed Howard Lutnick for the position.
Presidential endorsement
Trump praises Bessent's commitment to 'America First' agenda
Trump has shown confidence in Bessent's ability to lead the US into a new economic era.
He praised Bessent for his commitment to the "America First" agenda and said, "he will help me usher in a new Golden Age for the United States."
The oresident-elect also highlighted that these appointments are aimed at ensuring that no Americans are left behind in the upcoming economic boom.
Contrasting views
Musk expresses disappointment over Trump's choice
Notably, Musk had earlier hinted that Lutnick could bring the much-needed change to the role.
Musk had called Bessent a "business-as-usual choice," contrasting him with Lutnick's potential for bringing about change.
"My view [for what it's worth] is that [Scott] Bessent is a business-as-usual choice, whereas [Howard Lutnick] will actually enact change," Musk wrote on his social media handle discussing the cabinet pick.
Cabinet selections
Trump announces key appointments for his administration
Apart from Bessent, Trump also announced a few other key appointments for his administration.
Oregon Representative Lori Chavez-DeRemer was appointed Secretary of Labor, and Dr. Janette Nesheiwat was appointed Surgeon General.
Meanwhile, Alex Wong will be the Principal Deputy National Security Advisor and Dr. Sebastian Gorka returns as Senior Director for Counterterrorism.
The appointments will take effect on January 20, 2025, pending Senate confirmation.
Health leadership
Trump nominates leaders for CDC, FDA, and other key roles
Trump nominated former Congressman Dr. Dave Weldon to lead the Centers for Disease Control and Prevention (CDC).
Marty Makary was chosen as FDA Commissioner, and former NFL player Scott Turner will head the Department of Housing and Urban Development (HUD).
Russell Vought was appointed Director of the Office of Management and Budget (OMB).
These selections reflect Trump's focus on strengthening America's economic leadership and restoring trust in federal health agencies.