Hedge fund executive Scott Bessent will face a Senate confirmation hearing for Treasury secretary on Thursday, which could make him the first openly gay Cabinet member of a Republican administration.

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.

Trump's promised tax cuts, and their potential consequences for the U.S. economy, took center stage at Bessent's confirmation hearing.

Scott Bessent, Donald Trump's nominee for Treasury Secretary, said during a confirmation hearing Thursday that he is "perplexed" that the Biden administration did not impose more sanctions and tariffs on Russia's economy.

President-elect Donald Trump’s pick for Treasury secretary testifies Thursday before the Senate Banking Committee.

Donald Trump's nominee for Treasury Secretary Scott Bessent told Sen. Ron Wyden why it is goofy to claim the U.S. is in an "arms race with China for clean energy." SCOTT BESSENT: Senator Wyden, just to frame this for everyone in the room,

Scott Bessent told the Senate he saw 'no reason' for the U.S. to pursue a central bank digital currency, aligning with Trump's past comments.

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."

Scott Bessent's wise comments on tariffs, taxes, spending, and debt calmed investors and sent markets soaring.

Trump’s second term agenda includes cutting ‘slackers’ from federal workforce, former OMB official says

Scott Bessent, a South Carolina billionaire hedge fund manager, wasted no time getting to the crux of his confirmation hearing: the expiring Trump tax cuts. “This is the single most important economic issue of the day,” Bessent told the committee.