Iran, Bessent
Digest more
Treasury Secretary Scott Bessent told Arizona bankers the administration won't allow "risks posed by the extension of financial services to illegal aliens."
The way it’s being done should make us worry that the Federal Reserve is being roped into easing monetary conditions.
Despite data to the contrary, the Treasury Secretary made the case that the K-shaped economy no longer exists.
The 30-year Treasury yield just crossed a threshold not seen since 2007, the dollar is weakening when it should be strengthening, and two new power players in Washington are sending markets signals that contradict each other.
Treasury Secretary Scott Bessent promoted the Trump administration's efforts to loosen bank supervision while visiting a key Arizona swing district.
Treasury Secretary Scott Bessent made $1 billion betting against the yen as the top investor for George Soros more than a decade ago. Now, he is using the might of the U.S. economy to prop up the Japanese currency.
Treasury Secretary Scott Bessent said the U.S. bought yen alongside Japan to curb currency volatility and reduce risks to Asian markets.
Scott Bessent is bringing a hedge fund playbook to the Treasury, and Japan is the latest test case. The former Soros trader is taking an unusually hands-on role in the US effort to prop up the yen, from deliberately flashing a notepad hinting at a $10 billion yen purchase to tapping tools rarely associated with Treasury currency policy.
The Supreme Court forced Washington to return over a hundred billion dollars in tariff money, but Treasury Secretary Scott Bessent made a bold prediction about where that cash would actually land. Six months later,
The Treasury secretary wants the central bank to help by raising its $60 billion borrowing limit on an obscure lending program.
Economists say wages tell only part of the story, with wealth, spending and financial resilience still favouring higher-income households.