Job is one of most powerful in Washington with huge influence over US economy and financial markets

• Trump’s administration and White House staffing picks and likely contenders – so far

Donald Trump will nominate Scott Bessent, a longtime hedge-fund investor who taught at Yale University for several years, to be his treasury secretary, according to media reports on Friday. The job is one of the most powerful in Washington, with huge influence over America’s gigantic economy and financial markets.

Bloomberg and the Wall Street Journal cited people familiar with the matter.