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.

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

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 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.

Scott Bessent, U.S. President-elect Donald Trump's choice to head the Treasury Department, on Thursday said that extending Trump's 2017 tax cuts that are set to expire at the end of this year is "the single most important economic issue of the day.

Scott Bessent, U.S. President-elect Donald Trump's choice to head the Treasury Department, on Wednesday vowed to ensure that the dollar remains the world's reserve currency as he laid out a vision for a "new economic golden age".

President-elect Donald Trump's pick for Treasury secretary, hedge fund manager Scott Bessent, vowed to maintain the dollar's status as the world's reserve currency as he prepared to face questions from U.