All articles tagged with #bessent
Treasury Secretary Scott Bessent indicated that the US and China are moving towards de-escalating their trade tensions, with China expected to make substantial soybean purchases and avoid an additional 100% tariff, while some export restrictions may remain in place.
Treasury Secretary Scott Bessent, also a soybean farmer, expressed his shared pain with farmers affected by China's halt on U.S. soybean purchases due to the trade war, and discussed a potential deal with China that could include relief for farmers.
US officials, including Bessent, are engaging in talks with China to prevent a new trade war, emphasizing the importance of resolving issues like China's rare earth export restrictions through diplomacy and warning of potential countermeasures if negotiations fail.
A heated confrontation at a private dinner revealed a violent feud between Treasury Secretary Scott Bessent and Federal Housing Finance Agency Director Bill Pulte, involving threats and profanity, amid ongoing disputes over government financial initiatives.
Deutsche Bank strategists dispute Treasury Secretary Scott Bessent's claim that the Fed's interest rate is significantly above model indications, arguing that current rates are within the range suggested by monetary policy rules and that a modest cut could be justified, despite ongoing debates and differing views within the Fed.
Treasury Secretary Scott Bessent advocates for banning individual stock trading by members of Congress, aligning with bipartisan efforts to improve congressional ethics and restore public trust amid ongoing debates and opposition within Congress.
Treasury Secretary Scott Bessent, a former hedge fund manager, played a key role in managing Trump's economic policies, including advocating for tariffs and de-escalating trade tensions, while balancing market stability and fiscal concerns amidst a complex political landscape.
President Trump has replaced IRS Commissioner Billy Long with Treasury Secretary Scott Bessent temporarily, amid ongoing tax and tariff policy changes, with Long transitioning to a diplomatic role. The IRS has faced staffing cuts under Trump, and the administration continues to reshape revenue collection and tax legislation, including significant tariff revenue increases and a comprehensive tax law signed into law.
Treasury Secretary Bessent sparked controversy by suggesting that new Trump baby accounts could serve as a 'backdoor' to privatize Social Security, prompting criticism from Democrats and social security advocates, despite the White House's assurances of protecting the program.
Lawrence Summers supports Treasury Secretary Bessent's questioning of the Fed's non-monetary activities, emphasizing the importance of maintaining Fed independence in monetary policy while suggesting oversight and debate are needed for its other roles, and defending Fed Chair Powell amid political pressures.
Republican senators express concerns about President Trump's consideration of Scott Bessent for both Treasury Secretary and Federal Reserve Chair, emphasizing the importance of maintaining the Fed's independence and cautioning against combining these roles amid uncertain economic conditions and ongoing tariffs.
Treasury Secretary Scott Bessent is emerging as a potential candidate to replace Jerome Powell as Fed chair, with some encouraging his selection amid a small list of contenders, though Powell's term extends until 2026.
A fierce battle is unfolding between Howard Lutnick and Scott Bessent for the position of Treasury Secretary in Donald Trump's administration, with Wall Street factions attempting to discredit each other's candidates. Lutnick, backed by Elon Musk, faces criticism for allegedly using his transition team role to promote himself, while Bessent is under scrutiny for purported poor hedge fund returns. The rivalry highlights divisions within Trump's circle, prompting a broader search for candidates, including Kevin Warsh and Marc Rowan.