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.

Scott Bessent, President-elect Trump's pick for treasury secretary, will appear for a Senate Finance Committee confirmation hearing on Thursday, where he will discuss the incoming president's economic vision.

The stakes have never been higher, but with Bessent at the helm of the Trump economic team, a brighter future is within reach.

The Treasury secretary nominee cultivated allies in Trump’s orbit who have come to see him as a brainy avatar of their vision.

Their exchange on the minimum wage shows two views of the world.

Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.

Nominee for U.S. Treasury secretary, Scott Bessent, is expected to declare during his confirmation that Trump will usher in "a new economic golden age."

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

Republicans hold a 53-47 majority in the Senate, but Thune has complained that Democrats are using procedural maneuvers to slow the approval of some of Trump's more controversial picks, including former Fox News host Pete Hegseth for defense secretary and vaccine skeptic Robert F. Kennedy Jr. to head the Department of Health and Human Services.

The U.S. Treasury has taken extraordinary measures to delay breaching the federal debt limit by suspending G Fund reinvestments, extending borrowing capacity by $300 billion. Acting Treasury Secretary David Lebryk calls for congressional action while nominee Scott Bessent awaits confirmation amid ongoing debt ceiling negotiations.

During Scott Bessent’s confirmation hearing for US Treasury Secretary before the Senate Finance Committee, significant concerns were raised regarding China’s dominance in the rare earth elements (REEs) market.