The Latest Breaking News from Scott Bessent

He sold his farm in the last week, as soybean futures sat near the highest levels of the year.

As the week comes to a close, let’s look back at the top stories that emerged over the past few days. From Trump’s contemplation of the Australian retirement system to Elon Musk’s predictions about AI-driven unemployment, here’s a recap of the week’s most significant stories.

Also: All the news and watercooler chat from Fortune.

U.S. Treasury Secretary Scott Bessent expressed confidence that the administration would be able to enforce its tariff policies, regardless of the outcome of an ongoing Supreme Court case.

President Donald Trump is reportedly contemplating appointing U.S. Treasury Secretary Scott Bessent as his chief economic adviser if incumbent Kevin Hassett is chosen as the next Chairman of the Federal Reserve.

Sen. Bernie Sanders (I-Vt.) has renewed his criticism of extreme wealth concentration, arguing that the fortunes of three tech billionaires now eclipsing the bottom half of American households reflect a fundamentally broken economic system.

“When you see that people have a stake in the system, they don’t want to bring the system down,” the Treasury secretary argued at the DealBook Summit.

Saying that some Democrats had walked into his “bear trap,” the Treasury secretary urged them: “Join me and cut taxes, and that will be disinflationary.”

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