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

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Follow along with MarketWatch's live coverage of the Senate confirmation hearing for Scott Bessent, President-elect Donald Trump's nominee for Treasury secretary.

Donald Trump’s nominee for secretary of the Treasury, Scott Bessent, who lives in Charleston, South Carolina with his husband and family, could become first Senate-approved LGBTQ+ member in a Republican cabinet.

Scott Bessent told Sen. Ron Wyden, during his confirmation hearing to serve as Donald Trump's Treasury Secretary, he believes Chinese companies are likely to reduce prices in response to American tariffs,

Trump's picks fit into three groups: the fortifiers (the good), the detractors (the bad), and the mercurial influencers who might do good or harm.

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.

U.S. Treasury nominee Scott Bessent on Thursday faced sharp questions from both Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the future of an IRS tax filing system that Republicans have called to be cut.

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

Donald Trump's pick for Treasury secretary repeatedly defended a range of tariff ideas during his confirmation hearing before Senate lawmakers Thursday.