Scott Bessent spent the past 40 years studying economic history. Now, as Donald Trump’s choice to lead the Treasury Department, he has the chance to make his mark on it. As a hedge-fund manager, first at George Soros’s firm and later at his own,

President-elect Trump's nominee to serve as Treasury secretary, Scott Bessent, has a 3-3-3 plan that aims to curb budget deficits while spurring economic growth and energy production.

Trump's nominee to run the Treasury faces a tall order—dealing with mounting debt, implementing an aggressive tariff regime, and navigating a thorny relationship with the Federal Reserve.