Scott Bessent

A seemingly offhand remark from President Donald Trump has set off a wave of speculation in Washington and on Wall Street about the future leadership of the Federal Reserve. What To Know: During a Cabinet meeting on Tuesday, Trump accused Fed Chairman Jerome Powell of cutting interest rates in 2024...

President Donald Trump expressed his thoughts on the government cuts initiated by his one-time advisor, Elon Musk, and dismissed concerns about the impact of Musk’s new political party. What Happened: Trump, during a Cabinet meeting, suggested that he might have executed the...

Economist Justin Wolfers pushed back against President Donald Trump’s 25% tariffs on Japan, despite the latter actively working towards a resolution on the matter. What Happened: On Tuesday, in a post on X, Wolfers discussed Japan’s top trade negotiator’s recent travel to...

U.S. Treasury Secretary Scott Bessent announced plans to meet with his Chinese counterpart in the coming weeks to advance trade discussions between the world’s two largest economies, amid escalating tariff threats from President Donald Trump. What Happened: “I’m going to be...

Treasury Secretary Scott Bessent has cautioned that countries failing to negotiate a deal with the U.S. will face a return to higher tariff rates from August 1. What Happened: During an interview with CNN on Sunday, Bessent echoed President Donald Trump‘s comments from Friday,...

Treasury Secretary Scott Bessent criticized former Treasury Secretary Larry Summers on Monday, calling his recent television comments about Trump’s tax legislation “shockingly callous” and demanding a public apology. What Happened: The confrontation stems from Summers’...

Elon Musk lashed out at U.S. Treasury Secretary Scott Bessent on Sunday, calling him "a Soros stooge" and "a political science major who can't even do math" in a post on X. What Happened: Musk added that polling for him "was very positive a year ago, which is why Trump used me so much," dismissing...

U.S. Stock futures slipped on Sunday evening, following the Fourth of July weekend, after President Donald Trump’s confirmation regarding the reciprocal tariffs that are set to go into effect on August 1, instead of July 9. The S&P 500 Futures trade at 6,297.50, down 0.43%,...

Treasury Secretary Scott Bessent commented on the ongoing feud between Tesla Inc. (NASDAQ:TSLA), Elon Musk and President Donald Trump, suggesting that the conflict is unlikely to affect the passing of a significant bill. What Happened: In a recent interview with Fox News, Bessent touched on...

As the U.S. faces a critical vulnerability in its supply chain concerning rare earth supply, economist Craig Shapiro asserts that this situation is fixable, and at a surprisingly manageable cost. What Happened: Rare earth magnets are vital for everything from electric vehicles and AI to...

President Donald Trump's relentless criticism of Federal Reserve Chair Jerome Powell is a calculated move to weaken the U.S. dollar, according to Ed Yardeni, president of Yardeni Research. What Happened: Trump's attacks on Powell aim to pressure the Fed chair into cutting interest rates or...

Economist Justin Wolfers is warning that President Donald Trump's fixation on low interest rates could set the U.S. on a nightmarish path, one that increasingly mirrors the unrelenting inflation crisis that has gripped Turkey over the past couple of years. What Happened: On Tuesday, the University...

On Monday, U.S. Treasury Secretary Scott Bessent responded to a question on whether he was willing to replace Jerome Powell as Federal Reserve chair. What Happened: “I will do what the President wants,” Bessent said in an interview with Bloomberg TV on Monday, when asked about the...

President Donald Trump's bid to dismantle the Consumer Financial Protection Bureau has shifted at least $18 billion in costs onto consumers through higher bank fees and canceled restitution, two advocacy groups said Tuesday. What Happened: The Student Borrower Protection Center and the Consumer...

Analysts are pointing out that the GENIUS Act, which was passed in the Senate on Tuesday, could increase the competition for the large payment networks like Visa Inc. (NYSE:V) and Mastercard Inc. (NYSE:MA). What Happened: The act establishes a regulatory framework for dollar-pegged cryptocurrencies...