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The Latest Breaking News from Scott Bessent

Bessent says White House may 'veto' Federal Reserve presidents

Treasury Secretary Scott Bessent said Wednesday he would push a new requirement that the Federal Reserve’s regional bank presidents live in their districts for at least three years before taking office, a move that could give the White House more power over the independent agency

The Independent UK

Scott Bessent, Ted Cruz Hail $1,000 Trump Accounts For Kids: 'This Will Transform America'

President Donald Trump has launched "Trump Accounts," providing every eligible newborn in the U.S. with a $1,000 government-funded savings account to jumpstart their financial future.

Benzinga

Epstein survivors call on Congress to force Trump administration to hand over financial records

Bank records at the Treasury Department could expose the sex trafficker’s ‘cross-border criminal organization,’ victims say

The Independent UK

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‘This Fed went to sleep,’ says top economist Mohamed El-Erian, who wants to see central bank reformed and presidents to ‘cool it’

Mohamed El-Erian calls for a visionary, less reactive Fed just as Trump settles on his next chair, with Hassett leading and independence fears resurfacing.

Fortune

Republican Socialism: Trump Is Taking Federal Stakes in Private Companies

The Trump administration's pivot toward socialism did not come without warning.

Reason

IRS agents will be required to watch OnlyFans to determine if content fits ‘no tax on tips’ criteria

Campaigners have claimed that defining what pornography actually is could be too difficult to determine whether OnlyFans creators should be exempted from the ‘no tax on tips’ law

The Independent UK

Scott Bessent Orders Treasury Probe Into Claims Minnesota Tax Dollars Diverted To Somali Terrorist Organization Under 'Feckless' Biden Administration

The U.S. Treasury Secretary Scott Bessent has opened a formal investigation into allegations that Minnesota taxpayers' money may have been diverted to the Somali terrorist group Al-Shabaab through alleged fraud schemes.

Benzinga

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The tariffs are raising $100 billion less than Trump expected. Pantheon Macro sees 3 reasons why, starting with China

Scott Bessent said in August that tariffs would raise “well over half a trillion, maybe toward a trillion-dollar number.” It hasn’t panned out that way.

Fortune

Trump says he has a name to replace Powell—so Wall Street may need to contend with a ‘shadow Fed chair’ for the next half year

With Powell’s Fed term ending, Trump readies a new chair. Analysts eye Kevin Hassett and fear a “shadow chairman” could reshape U.S. monetary policy.

Fortune

Elon Musk Calls Out H1-B 'Misuse,' But Defends Skilled Immigration, Says Ending Program Will Be 'Very Bad'

Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk acknowledged the significant contribution of H1-B talent to the U.S. and called for a more open yet cautious approach to immigration.

Benzinga

Scott Bessent Moves To 'Cut Off' These Tax Credits, Other Federal Benefits For 'Illegal Aliens'

Scott Bessent, the Treasury Secretary, has revealed that the U.S. Treasury is taking steps to terminate federal benefits for “illegal aliens” amid President Donald Trump‘s directive to safeguard these benefits for U.S. citizens.

Benzinga

I Asked ChatGPT if I’m Too ‘High-Income’ for Trump’s Tariff Stimulus

ChatGPT analyzed whether a $100K household qualifies for Trump's proposed $2,000 tariff dividend. The answer: probably eligible, but nothing's finalized yet.

GOBankingRates

Trump Hints At Tax Cut, John Bolton Warns Of Peace Prize Ambitions And More: This Week in Politics

As the week comes to a close, here’s a look at some of the most significant stories that unfolded in the world of politics.

Benzinga

Trump Admin Boasts Affordability Wins As Egg Prices Plunge 86%, Housing Costs Fall Nearly 14%, Despite Rising Grocery Inflation

The Donald Trump administration is focusing on lowering the cost of living for Americans, highlighting selective wins in food and housing prices even as broader inflation continues to challenge households.

Benzinga

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Benzinga

Trump Says Economy 'Roaring Back,' Thanks God For 'Abundant Blessings' — Elon Musk Says Thanksgiving Food Is 'Amazing' As Holiday Messages Pour In

From presidential proclamations to playful AI image and tech-themed posts, the U.S. political and business heavyweights marked Thanksgiving in strikingly different ways.

Fortune

Longtime Trump advisor Kevin Hassett emerges as favorite for Fed chair, Bloomberg reports

Treasury Secretary Scott Bessent said there’s a “very good chance” a new Fed chair will be named by Christmas.

Fortune

Scott Bessent wants the era of Fed-watching to end: He says it’s time they ‘move back into the background’ and make fewer speeches

The Fed didn’t want to get embroiled in politics in 2025—or ever. But Bessent wants them even further out of the public eye.

Benzinga

Scott Bessent Rejects 'AI Bubble' Fears, Cites Broadening CapEx, Manufacturing Growth

Treasury Secretary Scott Bessent on Tuesday dismissed fears that the U.S. economy has become dangerously addicted to artificial intelligence (AI) spending, arguing instead that investment is poised to broaden into a wider industrial resurgence.

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Benzinga

Zohran Mamdani Has 'Old Ideas That Have Never Worked,' Says Scott Bessent: Trump Still Wants Him To Succeed

Treasury Secretary Scott Bessent weighed in on New York City Mayor-elect Zohran Mamdani's recent Oval Office visit to meet President Donald Trump, with a candid take on the Democratic leader’s campaign, policies and the meeting's surprising optics.

Benzinga

US Economy Set To Grow In 2026 — But A New Survey Warns Of Weak Jobs, Sticky Inflation And Hidden Risks Ahead

The U.S. economy is projected to grow modestly in 2026, though job creation is expected to stay weak, according to a new NABE survey.

GOBankingRates

Trump’s $2K Dividend: What Middle-Income Americans Could Expect

Trump’s proposed $2,000 tariff dividend could impact your wallet. Here’s what to know now and what it could eventually mean for middle-income Americans.

Benzinga

Scott Bessent Says If 'Radical Left' Again Shuts Down Government In January, GOP Should 'Immediately End' The Filibuster

Treasury Secretary Scott Bessent on Sunday urged Senate Republicans to be ready to scrap the legislative filibuster if Congress triggers another government shutdown when current funding expires in late January, aligning himself with President Donald Trump's demands to end the 60-vote hurdle.

Benzinga

Scott Bessent Says Americans Set For 'Lowest Cost' Thanksgiving Dinner In 4 Years After Being 'Traumatized' By Biden-Era Prices

Treasury Secretary Scott Bessent defended the Trump administration's handling of inflation and affordability, dismissing concerns over recent consumer price increases and forecasting relief for American households ahead of the holidays.

Fortune

‘It didn’t have to be this way’: Top economist warns affordability crisis will continue as tariffs and immigration crackdown send inflation higher

“Consumer price inflation is near 3%, well above the Fed’s inflation target, and everything points to even higher inflation dead-ahead.”

GOBankingRates

Trump’s $2K Dividend: Who Qualifies and How You’ll Get It

Here's who might qualify and how Americans could receive the money.

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