Trump picks his treasury secretary, budget chief, and labor leader

President-elect Donald Trump announced Friday that he'll nominate hedge fund manager Scott Bessent, an advocate for deficit reduction, to serve as his next treasury secretary.

Trump also said he would nominate Russel Vought to lead the Office of Management and Budget, a position Vought held during Trump's first presidency. Vought was closely involved with Project 2025, a conservative blueprint for Trump's second term that he tried to distance himself from during the campaign.