Welcome to the NewsHour. The two federal felony criminal cases against President-elect Donald Trump are being dropped.

Special counsel Jack Smith filed motions today to end the case charging Trump with illegally holding classified documents,

and the other for his efforts to unlawfully overturn the 2020 presidential election.

Smith defended the evidence in both cases

and the decision to prosecute,

but said today's expected move

hinged on a long-standing Justice Department policy

that a sitting president cannot face criminal prosecution.

Smith left open the possibility

the cases could be reopened when Trump leaves office.

Trump lauded today's move, writing, the cases were, quote, empty and lawless.

Meanwhile, the president-elect continues to round out his cabinet, including some key economic

appointments. He's chosen billionaire hedge fund manager, Scott Besant, for Treasury Secretary,

and for Commerce, he's chosen Howard Lutnik, the CEO of financial services firm,

Cantor Fitzgerald, and a big backer of tariffs.

For more on what these choices mean for Trump's agenda, we are joined again by David Wessel.

He is the director of the Hutchins Center on Fiscal and Monetary Policy choices mean for Trump's agenda, we are joined again by David Wessel.

He's the director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution.

David, so nice to see you again.

Good to be with you, William.

Let's talk a little bit more about Scott Bessert.

The markets and investors seem to be very excited about his pick.

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