Scott Bessent, U.S. President-elect Donald Trump's choice to head the Treasury Department, on Thursday said the question of eliminating the U.S. debt limit is "nuanced," but said if Trump wants to do so he will work with him and with Congress to get it done.

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.

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. Bessent told U.

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.

Treasury secretary nominee Scott Bessent testified in his confirmation hearing that he won't discriminate in tax enforcement and will ensure the IRS has the tools needed for audits.