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The Latest Breaking News from Scott Bessent

Scott Bessent Says Jerome Powell's Successor's Should Have These Qualities: Fed's 'Independence Is Essential,' But Is 'At Risk'

Treasury Secretary Scott Bessent outlined the qualities that he thinks the next Federal Reserve Chair should possess in an interview with Nikkei on Thursday.

Benzinga

Sen. Ron Wyden Warns Of Backdoor Social Security Privatization: 'It's Clear Trump Was Lying All Along'

As debate over the future of Social Security heats up once again, Sen. Ron Wyden (D-OR) is sounding the alarm over what many see as a renewed effort to privatize the program — this time, through a provision in the recently passed One Big Beautiful Bill Act.

Benzinga

Trump Removes IRS Commissioner Billy Long After 2 Months, Appoints Treasury Secretary Scott Bessent As Acting Chief Amid Agency Leadership Crisis

President Donald Trump has reportedly removed Billy Long as Internal Revenue Service commissioner just two months after his Senate confirmation. Treasury Secretary Scott Bessent will serve as acting IRS commissioner while the administration searches for a permanent replacement.

Benzinga

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Trump-Backed Push For Rate Cuts Intensifies As Scott Bessent Leads Search For Fed Chair To Succeed Jerome Powell: Report

As President Donald Trump continues to push for lower interest rates, the search for a successor to Federal Reserve Chair Jerome Powell has expanded, with U.S. Treasury Secretary Scott Bessent at the helm.

Benzinga

Trump removes IRS commissioner Billy Long two months after he was sworn in

Long is reportedly now in line for Iceland ambassador post as treasury chief Scott Bessent takes over as acting IRS head

The Guardian - US

US To Rectify 'Regrettable' Error In Japanese Tariff Order, Promises To Refund Excess Duties

The U.S. government has pledged to rectify a presidential executive order, which will result in the removal of overlapping tariffs on Japanese goods.

Benzinga

US sanctions Mexico cartel members, including rapper El Makabelico

Treasury aims to disrupt Cartel del Noreste’s leadership and financial networks tied to violence and drug trafficking.

Al Jazeera

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Who’s on Trump’s short list for Jerome Powell’s replacement

Trump confirmed Treasury Secretary Scott Bessent declined the role, saying, “I want to work with you,” while market-watchers weigh how each candidate could impact Fed independence and dollar strength.

Fortune

Trump narrows Fed chair candidates to four, excluding Treasury Secretary Bessent

Trump said in an interview with CNBC that he had removed Treasury Secretary Scott Bessent from consideration for Fed chair because Bessent wanted to remain in his current role.

Euronews

Trump says four candidates in running for Fed chair, rules out Bessent

US president says the Treasury secretary wishes to stay in his current role.

Al Jazeera

Trump Slams 'Rigged' Jobs Data After Firing BLS Chief, Mentions Two Possible Fed Chair Picks

Just days after firing Bureau of Labor Statistics Commissioner Erika McEntarfer, President Donald Trump reignited criticism of the agency, accusing it of publishing "rigged" employment data to favor Joe Biden during the 2024 election.

Benzinga

Bessent won’t replace Powell as Fed chair, Trump says: ‘I love Scott, but he wants to stay where he is’

The Treasury secretary has said he has “the best job in Washington,” although he has often been floated as a name for the top job at the central bank.

Fortune

Trump signals higher tariffs, defends firing of BLS chief in combative CNBC interview - Roll Call

A defiant President Trump defended his firing of a top government jobs monitor and said he would like to run again in 2028.

Roll Call

Now is the time for Democrats to hammer Trump on the economy

With inflation and unemployment rising, Democrats must speak out – and show they care about the average voter

The Guardian - US

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Benzinga

Trump's Trade Deals, Tariffs, The Tumbling Labor Market And More: This Week In Economy

The past week has been a whirlwind of economic events, with President Donald Trump making headlines for his bold claims and controversial decisions. From touting a new trade agreement with the EU to launching a new round of tariffs, Trump’s actions have stirred up both support and criticism.

Benzinga

Scott Bessent Says China Talks Optimistic As Trump Slaps Tariffs On Dozens Of Countries: 'We Have The Makings Of A Deal'

U.S. Treasury Secretary Scott Bessent said Friday he's optimistic about reaching a trade agreement with China as President Donald Trump launched a sweeping new round of tariffs affecting dozens of countries.

The Independent UK

How do Trump’s tariffs affect Asian countries?

US president blindsides Asian partners with steep new levies that threaten to redraw region’s economic and strategic map, Shweta Sharma writes

Fortune

Beijing officials warm to the idea of a yuan stablecoin, driven by the 'fear of missing out'

Some Chinese officials worry that the U.S.'s decision to embrace stablecoins through the Genius Act might reverse the trend of de-dollarization.

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The Guardian - UK

First Thing: Israel’s measures do nothing to stop Gaza starvation crisis, say aid workers

The UN has called for a full ceasefire and for Israel to allow humanitarian aid in. Plus, Trump accused of ‘direct attack’ on Brazilian democracy over judge sanctions

The Independent UK

Trump’s baby savings accounts are just a ‘back door to privatizing Social Security,’ treasury secretary admits

Democrats seized on the comment as a signal that Republicans want to privatize Social Security—an unpopular GOP idea that was floated 20 years ago and swiftly abandoned

Benzinga

Chuck Schumer Says Scott Bessent 'Slipped' And 'Told The Truth' About Trump's Social Security Privatization Plan

Treasury Secretary Scott Bessent said Wednesday that President Donald Trump's new children's savings program "is a back door for privatizing Social Security," a remark at a Breitbart News forum that revived a long-fraught debate Republicans have largely avoided in recent years.

Al Jazeera

US says sanctions hit Iran ‘shipping empire’ linked to top Tehran official

Sanctions said to target shipping controlled by Mohammad Hossein Shamkhani, son of top adviser to Iran’s supreme leader.

International Business Times

Trump Punishes Brazil With Tariffs, Sanctions Over Trial Of Ally Bolsonaro

President Donald Trump ordered massive tariffs on Brazil Wednesday and sanctions against the judge overseeing a trial of his far-right ally Jair Bolsonaro, who is accused of attempting a coup in Latin America's biggest economy.

The Guardian - US

Trump accused of ‘attack on Brazilian democracy’ after sanctioning Bolsonaro trial judge

US treasury imposes sanctions on Alexandre de Moraes, presiding over Bolsonaro alleged coup plot trial

The Independent UK

China promises to help companies slammed by tariffs, as talks with the US left in limbo

China's top leaders have pledged to help companies slammed by higher U.S. tariffs but held back on major moves after trade talks with the U.S. this week left businesses in limbo

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