Business leaders say they are relieved ­President-elect Donald Trump made a safe choice to lead the Department of Treasury after more unconventional selections to other cabinet posts. Hedge fund executive Scott Bessent survived an internal squabble over the role of Treasury secretary,

Investors are “appreciative” of Trump’s nomination of the “business-as-usual” Bessent as Treasury secretary, remarked one strategist.

If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.