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Scott Bessent and his team at the Treasury Department now face what could be their biggest challenge yet — fixing the affordability crisis as he shapes President Trump’s policies on tariffs, taxes, and Uncle Sam’s $38 trillion debt pile. The months ahead of the US midterm elections will be pivotal, as the former hedge-fund manager […]
Parts of the US economy, particularly housing, may already be in recession because of high interest rates, Treasury Secretary Scott Bessent said Sunday, repeating his call for the Federal Reserve to accelerate rate cuts. “I think that we are in good shape, but I think that there are sectors of the economy that are in recession,” Bessent said on […]
WASHINGTON — The US and China have finalized a deal to transfer the American version of TikTok to new owners, Treasury Secretary Scott Bessent revealed on Sunday. President Trump and Chinese leader Xi Jinping will officially “consummate” that deal when they meet in Busan, South Korea on Thursday — marking the first time the two […]
Treasury Secretary Scott Bessent on Friday called for renewed scrutiny of the Federal Reserve, including its power to set interest rates, as the Trump administration intensifies its efforts to exert control over a central bank whose insulation from short-term political pressures is widely seen as key to effective control of inflation. “There must also be an honest, […]
The Trump administration will focus on finding a replacement for Federal Reserve Chairman Jerome Powell this fall, Treasury Secretary Scott Bessent told CNBC on Thursday, adding that officials had “a lot of good candidates.” Bessent said it was up to the Fed to decide interest rates, although he added that if the central bank did not cut interest […]
Scott Bessent, the billionaire hedge fund manager whom President-elect Donald J. Trump picked to be his Treasury secretary, plans to divest from dozens of funds, trusts and investments in preparation to become the nation’s top economic policymaker. Those plans were released on Saturday along with the publication of an ethics agreement and financial disclosures that […]
