Hedge fund executive Scott Bessent survived an internal squabble over the role of Treasury secretary, a key position that will face almost immediate deadlines and pressures.

Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.

Scott Bessent, Donald Trump's pick for Treasury Secretary, is a veteran Wall Street executive who advised Trump during his presidential campaign and has praised his economic agenda of tariffs, lower taxes,