Trump picks hedge-fund investor Scott Bessent for treasury secretary

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

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

The move to select Bessent is the latest as the president-elect starts to pull together the administration for his second term in the White House. The process so far has been marked largely by a focus more on personal and political loyalty to Trump than expertise and experience.

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Trump selects key Project 2025 figure Russ Vought to head budget office

Vought, who led Office of Management and Budget during Trump’s first term, deeply involved in rightwing manifesto

Donald Trump has chosen Russ Vought, a key architect of Project 2025, the controversial conservative plan to overhaul the government, to be director of the US Office of Management and Budget, a powerful agency that helps decide the president’s policy priorities and how to pay for them.

Vought, who was OMB chief during Trump’s first term, would play a major role in setting budget priorities and implementing Trump’s campaign promise to roll back government regulations.

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Donald Trump announces picks for labor and treasury departments, CDC and surgeon general in flurry of nominations – as it happened

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In a new interview on Friday, Matt Gaetz revealed that he will not be returning to Congress next year.

Speaking to conservative talk show host Charlie Kirk, Gaetz, who withdrew his attorney general nomination yesterday, said:

“I’m still going to be in the fight, but it’s going to be from a new perch. I do not intend to join the 119th Congress,” CNN reports.

“There are a number of fantastic Floridians who’ve stepped up to run for my seat, people who have inspired with their heroism, with their public service. And I’m actually excited to see northwest Florida go to new heights and have great representation… I’m going to be fighting for President Trump. I’m going to be doing whatever he asks of me, as I always have. But I think that eight years is probably enough time in the United States Congress.”

“While the momentum was strong, it is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition.”

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Trump hush-money case sentencing postponed indefinitely

President-elect spokesperson hails ‘decisive win’ as Judge Juan Merchan declines to provide new sentencing date

The sentencing in Donald Trump’s Manhattan criminal hush-money case has been postponed indefinitely while attorneys on both sides argue over its future given his recent election victory.

Judge Juan Merchan, who is overseeing Trump’s case, did not provide a new sentencing date in his one-page scheduling order on Friday.

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Ice could add 600 beds to New Jersey detention center, documents show

ACLU obtains documents showing agency’s effort to expand state’s detention capacity for undocumented immigrants

US Immigration and Customs Enforcement (Ice) officials could add 600 beds to detain unauthorized immigrants in New Jersey, according to new documents obtained by the state chapter of the American Civil Liberties Union on Friday.

An additional 600 detainees could mark a significant increase in the number of people held in New Jersey. The Elizabeth detention center – the only facility in the state that holds detainees – can currently accommodate up to 300 detainees, the Bergen Record reported in April. There were 285 detainees in the facility as of the end of October, according to data analyzed by the Guardian from the Transactional Records Access Clearinghouse at Syracuse University.

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Leading Republican strategist rebukes Trump for bringing ‘chaos’ back

Karl Rove says in Wall Street Journal that Trump has ‘created chaos and controversy’ before he’s even in office

As Matt Gaetz, Donald Trump’s first nominee for attorney general, withdrew after eight days amid allegations of sexual misconduct and more, and as Trump’s new pick, Pam Bondi, faced scrutiny of her own, a leading Republican strategist rebuked the president-elect for bringing “chaos” back to Washington.

“Inadequate vetting, impatience, disregard for qualifications and a thirst for revenge have created chaos and controversy for Mr Trump before he’s even in office,” said Karl Rove, once known as George W Bush’s “Brain”, in the Wall Street Journal.

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Angela Merkel expresses ‘huge concern’ at Elon Musk’s US government role

Former German chancellor says politics should govern the social balance between powerful and ordinary citizens

Angela Merkel, who in her new memoir raises fears for the western democratic order with Donald Trump as US president, has also expressed deep concerns about the outsized role to be played in Trump’s administration by Elon Musk.

The former German chancellor, who during Trump’s first term was given by some observers the designation of “leader of the free world” usually reserved for US presidents, said 16 years in power had taught her that business and political interests must be kept in fine balance.

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Trump names Pam Bondi as attorney general pick after Gaetz steps aside

Ex-Florida attorney general is longtime Trump ally and was one of his lawyers during first impeachment trial

Donald Trump announced that he would nominate for attorney general Pam Bondi, the former Florida state attorney general, hours after the former representative Matt Gaetz withdrew in the face of opposition from Senate Republicans who had balked over a series of sexual misconduct allegations.

The move to name Bondi reflected Trump’s determination to install a loyalist as the nation’s top law enforcement official and marked another instance of Trump putting his personal lawyers in the justice department.

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Those who try to emulate Teflon Trump often come unstuck – just ask Gaetz

The fall of the Florida congressman who was accused of sexual misconduct proves there is one rule for Trump and another for everyone else

When he ran for US president in 2016, Donald Trump boasted that he would “surround myself only with the best and most serious people”, adding: “We want top-of-the-line professionals.”

Second time around, Trump appears to have quality control issues. On Thursday Matt Gaetz, his pick to be attorney general, withdrew from consideration amid allegations including sexual misconduct with a 17-year-old girl, drug use and misappropriating campaign funds.

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Matt Gaetz withdraws from consideration to be Trump’s attorney general

Gaetz’s withdrawal comes amid intense scrutiny of allegations of sexual misconduct against cabinet nominee

Matt Gaetz, the former Florida congressman, withdrew from consideration to serve as Donald Trump’s attorney general on Thursday, amid intense scrutiny of allegations of sexual misconduct, ending the brief nomination of one of Trump’s most controversial cabinet picks.

After meeting with senators on Capitol Hill on Wednesday, Gaetz determined that his nomination was “becoming a distraction to the critical work” of the new Trump administration, he explained on X.

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How Trump’s nomination of Matt Gaetz unravelled in just eight days

In a Washington farce for the ages, the far-right Republican has withdrawn from consideration for US attorney general – how did it happen?

Donald Trump decided to nominate Matt Gaetz as attorney general last Wednesday, during a flight home from Washington, where the president-elect had visited Joe Biden at the White House. The pick proved as surprising as it was controversial. Just eight days later, after a week of relentless hullabaloo, Gaetz withdrew from contention.

It was a Washington farce for the ages. But how did it happen?

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The Apprentice actor Sebastian Stan says Hollywood stars are ‘afraid’ of Trump

None of his peers would appear with him on a chatshow the actor claimed, setting an ominous precedent for the industry’s interactions with Trump after he comes into power

Sebastian Stan, who stars in The Apprentice, a biopic of Donald Trump focusing on his association in the 1970s with lawyer Roy Cohn, has said that other actors in Hollywood are too “afraid” of the president-elect to participate in press with him.

Stan claimed that he had failed to find a single peer who would appear opposite him in the Actors on Actors series run by industry magazine Variety, in which key awards contenders quiz each other.

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Why Trump’s racism isn’t an issue – or enough of one – for some voters of color

Experts warn assuming minority groups will reject a racist candidate ignores nuance, particularly on the economy

Since Donald Trump won the 2024 US presidential election, many have publicly speculated why people of color – with whom Trump made some gains – would vote for a racist candidate. Throughout his campaign, Trump and his supporters spouted a series of racist remarks aimed at Black and Latino people, immigrants at large and other marginalized groups. He also promised to utilize the military to carry out mass deportations, ban sanctuary cities, and escalate attacks on diversity, equity and inclusion (DEI) efforts at the federal level.

Swaths of non-white voters still supported Trump at the ballot box. And though this sort of data can vary in reliability, experts agree that Trump made inroads among some minorities despite his bigoted comments.

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Outcry over stalemate on Gaetz report; Trump reportedly considering Martin Makary for FDA – US politics live

Democrat Susan Wild says committee chair Michael Guest mischaracterized meeting and committee will reconvene in December; Markary opposed Covid vaccine mandates

The Federal Reserve must not remove Wells Fargo’s $1.95tn asset cap until the bank has fixed its risk management and compliance issues, top Democratic Senator Elizabeth Warren told the US central bank on Wednesday, reports Reuters.

In a letter to Fed chair, Jerome Powell, and the central bank’s regulatory chief, Michael Barr, Warren said the Fed must reject Wells Fargo reported appeal to have the punishment imposed in 2018 lifted until it “can show that it can properly manage the risks associated with running a large bank”.

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House ethics committee deadlocked on whether to release Matt Gaetz report

Panel met on Wednesday but didn’t reach a decision on releasing the report on Trump’s controversial AG pick

The House ethics committee deadlocked on releasing a report examining allegations of sexual misconduct against Matt Gaetz, the former Republican representative and Donald Trump’s choice to lead the US justice department, after the panel met behind closed doors on Wednesday.

Emerging from the meeting after roughly two hours, most members of the panel declined to offer details on their discussion, but the Republican chair, Michael Guest, told reporters that there was “not an agreement by the committee to release the report”.

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Thousands eager to escape Trump keen to snap up €1 Sardinian home, says mayor

American applications would be fast-tracked although scheme is open to other nationalities, says mayor of Ollolai

The mayor of a small town in Sardinia has said thousands of Americans keen to escape Donald Trump have expressed an interest in moving there after he offered homes to them for as little as €1.

Francesco Columbu, the mayor of Ollolai, has staged similarly enticing initiatives in the past as a way to combat depopulation. He released more homes for sale after sensing he was on to a winner when Trump clinched a second term as US president in elections earlier this month.

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Who is Mehmet Oz, Trump’s pick to lead Medicare and Medicaid?

Dr Oz, best known for his daytime talkshow, leaned heavily into Trumpism during his failed 2022 run for US Senate

Donald Trump has chosen Mehmet Oz, best known for starring in his eponymous daytime talkshow for more than a decade and leaning heavily into Trumpism during his failed 2022 run for a Pennsylvania Senate seat, to lead the Centers for Medicare and Medicaid Services (CMS). The cardiothoracic surgeon, who faced immense backlash from the medical and scientific communities for pushing misinformation at the height of the Covid-19 pandemic, will oversee the agency that operates on a $2.6tn annual budget and provides healthcare to more than 100 million people.

“I am honored to be nominated by [Donald Trump] to lead CMS,” Oz posted on X on Tuesday. “I look forward to serving my country to Make America Healthy Again under the leadership of HHS Secretary [Robert F Kennedy Jr].”

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Trump picks former WWE executive Linda McMahon for education secretary

Billionaire and former Senate candidate served in president-elect’s cabinet in first administration

Linda McMahon, co-chair of Donald Trump’s transition team, has been named as the president-elect’s pick for education secretary in his upcoming administration.

In a statement, Trump extolled the “incredible” job McMahon, the billionaire co-founder of World Wrestling Entertainment (WWE), has been doing as transition team co-chair and said: “As Secretary of Education, Linda will fight tirelessly to expand ‘Choice’ to every State in America, and empower parents to make the best Education decisions for their families. … We will send Education BACK TO THE STATES, and Linda will spearhead that effort.”

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Trump tariffs are coming, but some Chinese companies may already know how to avoid them

Some experts liken tariffs to a game of whack-a-mole, with trade flows simply rerouted if the potential rewards are big enough

Businesses are bracing for the economic impact of a second Trump presidency, which, if his campaign promises are to be believed, will mean tariffs across nearly all imports to the US, especially those from China.

But amid the gloom over the spectre of a renewed global trade war, some manufacturers may be looking to those who already have a playbook on dealing with aggressive US levies, such as China’s solar companies.

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Trump picks Linda McMahon for education, and says he won’t reconsider Matt Gaetz nomination – live

President-elect picks prominent donor and co-chair of transition team as education secretary; Trump won’t rethink Gaetz for attorney general despite mounting scrutiny

President-elect Donald Trump will join billionaire Elon Musk for a SpaceX launch in Texas later today, as reported by Reuters.

This will be the sixth test flight to space for SpaceX’s Starship rocket. The test launch is planned for 5pm ET.

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