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.

Donald Trump on Friday said he would nominate Scott Bessent to be the 79th U.S. Treasury secretary and frontman for the president-elect's aggressive economic policies, a slate that financial markets already anticipate will add to economic growth in the near term but also rekindle inflation.