President-elect Donald Trump's pick for Treasury Secretary, Scott Bessent, said he "100%" supports raising sanctions on Russian oil producers if the future president requests doing so.

The fund manager will face senators at a confirmation hearing on Thursday

Here's what to know about the Treasury secretary pick Bessent, who heads into his confirmation hearing and may become the first Senate-approved LGBTQ+ member in a Republican cabinet.

The United States should keep oversight of potential problems in the U.S. bond market, President-elect Donald Trump's Treasury Secretary pick Scott Bessent told Congress on Thursday, referring to Wall Street billionaire Howard Lutnick's plan to clear Treasury futures through a UK firm.

President-elect Donald Trump's pick for Treasury secretary, hedge fund manager Scott Bessent, vowed to maintain the dollar's status as the world's reserve currency as he prepared to face questions from U.

More than any other nominee, Bessent’s responsibilities are at the heart of Trump’s economic agenda, and he can expect probing questions from the committee’s members, all of whom are well-versed on financial matters and have strong opinions on trade, taxes, debt, sanctions and other areas under Treasury’s remit. The panel also includes some of the most senior members of both parties, including Senator John Thune, who was recently elected Senate Majority Leader. Thune will be a key player in shepherding Trump’s agenda through Congress, where the president can afford to lose the votes of only three of his party’s 53 senators in the chamber.

President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the Federal Reserve should stay independent and that he is ready to impose tougher sanctions on Russia's oil sector.