The U.S. Senate Finance Committee on Tuesday voted to send the nomination of billionaire hedge fund manager Scott Bessent as President Donald Trump's Treasury secretary on to the full Senate for approval.

Trump Treasury Secretary nominee Scott Bessent faces a Senate panel on Thursday and can expect grilling from a Democratic watchdog of Wall Street.

President-elect Donald Trump’s pick for Treasury secretary testified Thursday before the Senate Banking Committee.

Scott Bessent will also resign from Key Square Group, the hedge fund he founded, to avoid conflicts of interest if the Senate confirms him.

Two more of President Trump's Cabinet picks, Doug Collins and Elise Stefanik, will receive confirmation hearings on Tuesday. His Treasury nominee, Scott Bessent, will get a committee vote.

"Do you think that when so few people have so much wealth and so much economic and political power, that is an oligarchic form of society?"

Scott Bessent, the investor selected by President-elect Donald Trump to be his Treasury secretary, will divest from his Key Square Group hedge fund and other investments, according to a letter to the Treasury Department's ethics office.

Latest news and live updates as the Trump administration prepares for office next week. Follow live as Senate confirmation hearings continue for attorney general pick Pam Bondi.

The United States should keep oversight of potential problems in the U.S. bond market, President-elect Donald Trump's Treasury Secretary pick Scott Bessent told Congress on Thursday, referring to Wall Street billionaire Howard Lutnick's plan to clear Treasury futures through a UK firm.

“I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States. Scott is widely respected as one of the World's foremost International Investors ...

The hedge fund manager and Trump advisor also lent support to the idea of reconsidering deposit insurance limits for some kinds of accounts, such as those used for payrolls.