Scott Bessent

U.S. Treasury Secretary Scott Bessent highlighted the impact of the U.S. Navy’s ongoing blockade of Iranian ports on Iran’s oil revenue. He took to X on Tuesday to reiterate that President Donald Trump would continue with the blockade on the Strait of Hormuz, and “In a matter of...

Treasury Secretary Scott Bessent, on Wednesday, accused Sen. Elizabeth Warren (D-Mass.) of her political grandstanding in connection with the Federal Reserve leadership. Bessent Highlights Warren's Action for Fed Leadership In a post on X, he claimed that Warren bragged about her "leading role in...

As the week comes to a close, here’s a quick recap of the top stories that made headlines in the financial world. Former Treasury Chief Paulson Warns Of Bond Demand Crisis, Calls For Emergency Plan Former U.S. Treasury Secretary Henry Paulson has issued a warning about a potential...

The U.S. Treasury Department has decided to extend the suspension of sanctions on Russian oil shipments in an effort to alleviate oil shortages caused by the Iran war, contrary to the earlier stance of Secretary Scott Bessent. US Extends Russian Oil Sanctions Suspension The Treasury Department...

Treasury Secretary Scott Bessent said Wednesday at CNBC's Invest in America Forum that roughly 5 million children have signed up for Trump Accounts, with about 1.2 million eligible for a $1,000 government seed contribution. The update marks a step up from earlier adoption figures. Prior IRS data...

Treasury Secretary Scott Bessent suggested that the economic growth of the current quarter might “be slower than it was” due to the U.S.-Iran war. Speaking to CNBC’s Sara Eisen on Wednesday, Bessent emphasized that the economy was in “such good shape” before the...

Late Wednesday, U.S. stock futures advanced as investors weighed signs of a potential end to the Iran conflict alongside renewed threats of economic pressure on Tehran. Stock Futures Climb As Markets Bet On De-Escalation Dow futures rose 102.00 points, or 0.21%, to 48,771.00, while S&P 500...

Treasury Secretary Scott Bessent spoke to CNBC on Wednesday during the Invest In America Forum about the current state of the private credit market. He noted that "none of our work has shown there would be a systemic problem." Bessent referenced JPMorgan CEO Jamie Dimon's comments regarding "...

The U.S. has reportedly chosen not to renew waivers on sanctions for Iranian and Russian oil amid a more stringent approach towards these countries. The 30-day waiver on sanctions for Iranian oil currently at sea, set to lapse this week, will not be prolonged, Reuters reported on Tuesday. In...

U.K. officials at the Bank of England, the U.K. Treasury and the Financial Conduct Authority are reportedly in urgent talks with the National Cyber Security Centre to assess the risks posed by a new artificial intelligence model from Anthropic. UK Regulators Assess AI-Exposed Cyber Risks The...

U.S. officials reportedly warned major banks about a powerful new artificial intelligence system that could expose critical cybersecurity weaknesses. The alert came during a closed-door meeting involving top regulators and banking executives in Washington, The New York Times reports, raising...

Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell reportedly held an urgent meeting with the CEOs of the country’s biggest banks this week to warn them about cybersecurity risks posed by Anthropic‘s newly launched AI model. The meeting took place on Tuesday at the...

It’s been a whirlwind week, with significant developments in the political and financial spheres. Here’s a quick rundown of the top economic stories that made headlines. Trump’s 2027 Budget Proposal President Donald Trump has unveiled a budget plan for 2027, which includes a 44%...

The Treasury Department, led by Secretary Scott Bessent, is reportedly moving to drastically downsize the Office of Financial Research, a key agency created to monitor systemic risks following the 2008 financial crisis, drawing fierce pushback from Democrats. Deep Cuts Amid Market Turmoil According...

While foreign central banks have rapidly liquidated $82 billion in U.S. Treasuries amid the Middle East conflict, according to a FT report, top financial experts are dismissing fears of a market collapse. A ‘Feared’ Defense Against Bond Vigilantes While the sudden offloading of U.S....