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The Latest Breaking News from Scott Bessent

US Treasury prepares mock-up of $250 note with Trump portrait

US Treasury Secretary Scott Bessent revealed mock-ups for a proposed $250 note featuring President Donald Trump, pending Congressional approval. Current law prohibits living individuals on currency, but proposed legislation aims to amend this. This initiative has reportedly caused internal controversy and led to the reassignment of the Bureau of Engraving…

The Economic Times

US-Iran truce deal awaits Trump as strikes test ceasefire

US and Iranian negotiators edged toward a deal to extend their fragile ceasefire for 60 days, but the potential breakthrough was still hanging on President Donald Trump'on Thursday. Late on Thursday, US Vice President JD Vance told reporters that Trump was not yet ready to approve it, even though negotiations…

The Economic Times

Trump news at a glance: president really wants his face on US money before he’s dead

Trump’s latest vanity project would require changing law that prohibits any living person from appearing on US currency – key US politics stories from Thursday 28 May

The Guardian - US

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White House pushes Congress to approve $250 bill with Trump’s image

Treasury secretary says banknote would celebrate US’s 250th anniversary but Democrats vow to block move in Congress

The Guardian - US

Trump Accounts app for kids goes live: Who qualifies for $1,000 government deposit, how parents can apply, launch date, app features, contributions and withdrawal rules explained

Trump Accounts for kids app explained: Parents can now access the Trump Accounts mobile app, a new government savings program for children. Launched May 28, the app offers financial literacy tools ahead of the official account debut on July 4, 2026. Eligible children born between 2025-2028 will receive a $1,000…

The Economic Times

US, Iran agree deal but need Trump approval: sources

WASHINGTON (UNITED STATES) - US and Iranian negotiators have agreed on a framework for a 60-day ceasefire extension deal but it still needs President Donald Trump's approval, US sources told AFP on Thursday.

Bangkok Post

Hillary Clinton mocks proposed Trump $250 bill and ties it to affordability

Trump officials have requested designs for the bill, potentially paving the way for a living person to appear on US currency for the first time in over 150 years

The Independent UK

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Any deal with Iran is ‘going to be president’s decision’ – Scott Bessent

The sign of progress came as the fragile truce in the three-month conflict was shaken after the US and Iran traded fresh strikes

Evening Standard

Trump's face could appear on US $250 bill

A proposal to feature Donald Trump on a new $250 bill for America’s 250th anniversary is under discussion, raising legal and political concerns. The move would break a long-standing ban on depicting living individuals on US currency, with critics calling it controversial and supporters framing it as symbolic recognition.

The Economic Times

US issues new warning to Oman after Trump threatened to ‘blow up’ ally

IN FULL

The Independent UK

US Treasury rolls out Trump Accounts app nationwide

The U.S. Treasury has launched the Trump Accounts app nationwide. This initiative aims to create millions of investment accounts for children. The government will deposit $1,000 in starter funds for eligible children. Major companies have pledged contributions for their employees' children. This program encourages early long-term investing to build wealth…

The Economic Times

US warns ties with Iran’s Strait of Hormuz authority may bring sanctions for 'anyone' involved

America has issued a stern warning to global shipping and finance firms. Cooperation with Iran's new Persian Gulf Strait Authority could invite US sanctions. This move escalates pressure on Tehran's control over the vital Strait of Hormuz. The US Treasury Department stated that such cooperation might support Iran's Revolutionary Guard…

The Economic Times

Has war resumed? US launches fresh strikes on Iran; Kuwait intercepts missiles, drones — what we know so far

The US military carried out fresh strikes in Iran on Wednesday, shooting down four Iranian drones and hitting a control centre in the southern port city of Bandar Abbas, even as Washington and Tehran continue negotiations to end their three-month conflict.

The Times of India

US Treasury rout tests tolerance for higher loan costs

There is anxiety over petrol prices as well as where the bond market is headed, as the US economy is jolted by the impact of conflict with Iran.

AAP

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Fortune

U.S. debt is the 'elephant in the room' amid bond market rout as Fed-fueled interest costs could drive even larger deficits, analysts warn

"In our view, unsustainable fiscal dynamics are compounding with a reflation story, turning a short-term problem into a long-end selloff."

The Economic Times

US Senator urges sanctions on entities paying Iran for passage via Strait of Hormuz

US Senator Tom Cotton has called on the Treasury Department to sanction entities aiding Iran's control over the Strait of Hormuz. He specifically targets the Persian Gulf Strait Authority, which he says is illegally regulating passage and collecting fees. Cotton emphasizes that any entity facilitating these tolls finances a designated…

International Business Times

Congress Democrats Grill Treasury Secretary About Trump's $1.8B Anti-Weaponization Fund

Democrats on the Senate Finance Committee asked Treasury and IRS officials to explain their role in an "Anti-Weaponization Fund" for people who claim they were wrongly targeted by the Biden administration.

AAP

Trump calls off AI executive order over concern it could weaken US tech edge

President Donald Trump has called off plans to sign a new executive order on artificial intelligence hours before an expected White House ceremony

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Fortune

Trump says he’s calling off widely anticipated order to rein in AI

President Donald Trump called off plans to sign a new executive order on artificial intelligence hours before an expected White House ceremony Thursday because he said he was worried the measure could dull America’s edge on AI technology. Trump said he was postponing the Oval Office event with tech industry…

AAP

Trump calls off plan to sign artificial intelligence order due to concern it could hurt the industry

President Donald Trump has called off plans to sign a new executive order on artificial intelligence hours before an expected White House ceremony

The Conversation

Nonprofit fraud: Amid high-profile prosecutions, an accountant explains what’s really going on

Nonprofit fraud is in the news a lot these days.

The Economic Times

US Stock Market: Bessent downplays inflation fears despite energy price surge

U.S. Treasury Secretary Scott Bessent downplayed fears of a prolonged inflationary spiral, attributing recent surges in energy prices and bond yields to temporary geopolitical disruptions. He believes inflation will moderate once the Iran conflict stabilizes and energy markets normalize, suggesting central bankers are overly cautious about lasting price pressures.

The Guardian - AU

Ukraine war briefing: Britain to buy diesel and jet fuel made from Russian crude oil

Exemption for Russian oil refined elsewhere then sold on; funeral in Kyiv for two of Russian bombing’s young victims. What we know on day 1,547

Fortune

The times they are a-changin': Trump pivots towards AI regulation in the face of a mounting public backlash

With a public backlash against AI mounting, the White House is changing its tune on AI regulation and talks with China on AI.

Radio France Internationale

G7 finance ministers seek common ground despite divisions over Russia and trade

The world's leading economies have pledged renewed multilateral cooperation to tackle growing threats to global economic stability stemming from the war in the Middle East, after high-level talks in Paris that also exposed strains between the United States and several of its allies.

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