With Scott Bessent, consumers eyeing prices and interest rates are getting a Treasury secretary pick who is deeply aware of the big-picture forces pushing and pulling those everyday costs, experts say.

President-elect Trump's nominee to serve as Treasury secretary, Scott Bessent, has a 3-3-3 plan that aims to curb budget deficits while spurring economic growth and energy production.

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.