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The Latest Breaking News from Scott Bessent

Larry Summers says there is a real possibility of a recession, which he calls the result of a ‘self-inflicted wound’

President Donald Trump and Treasury Secretary Scott Bessent have suggested an economic downturn on the back of tariffs would be a transition period. Larry Summers, a former Treasury secretary, thinks otherwise.

Fortune

Stocks slump as trade war grows

The Dow fell more than 400 points on Tuesday as Trump announced he would increase tariffs on Canada

Salon

'Cheap goods' aren’t part of the American Dream, Trump's treasury secretary says

In a recent speech, Scott Bessent threw more cold water on a Trump campaign promise to lower the cost of living.

Fortune

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US economic worries mount as Trump implements tariffs, cuts workforce and freezes spending

President Donald Trump's flurry of tariffs, government layoffs and spending freezes may be doing more to harm the U.S. economy than to fix it

The Independent UK

Trump Treasury secretary says economy slowdown just ‘detox’ as government spending switches to private sector

Donald Trump’s new Treasury secretary blew off the apparent slowdown in the nation’s economy as nothing more than “detox” as government spending switches to the private sector.

The Independent UK

Markets head for worst week of 2025 amid Trump tariff uncertainty

A weaker-than-expected jobs report suggests trade policy and DOGE cuts could be weighing on hiring, including in the private sector.

Fortune

Treasury Secretary Scott Bessent says the economy may slow as part of a ‘detox’ from government spending

Bessent said employment should come from private companies, not the federal government.

Fortune

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Possible Travel Bans Coming

Plus: The Trump administration's American dream revisionism, 50 theses on DOGE, what people get wrong about extreme MAGA, and more...

Reason

Trump’s Treasury Secretary claims cheap goods are ‘not the essence of the American Dream’

‘The American Dream is rooted in the concept that any citizen can achieve prosperity,’ Treasury Secretary Scott Bessent said

The Independent UK

Cheap goods ‘not essence of American dream’, Trump official says amid tariff price fears

Treasury secretary Scott Bessent defends the new administration’s aggressive trade strategy

The Guardian - US

In a win for Silicon Valley, Senate votes to overturn key payments regulation that could benefit Elon Musk’s X

The rule was enacted under the Biden administration’s Consumer Financial Protection Bureau last November.

Fortune

Warren puts Treasury nominee on the spot ahead of hearing - Roll Call

Sen. Elizabeth Warren is pressing Treasury nominee for answers about his oversight of the pandemic-era Paycheck Protection Program.

Roll Call

Britain dashes hope of quick Donald Trump peace deal for Ukraine warning 'there's a long way to go yet'

Trump reveals Zelensky sent him a letter in which Ukraine’s leader expressed a willing to sign a minerals deal ‘at any time’

Evening Standard

Stock Market Today: Dow Drops 670 Points on Trade War Effect

A prodigious rally by the battered leader of the AI revolution typified an increasingly volatile picture for investors, traders and speculators.

Kiplinger

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The Independent UK

Trump’s Tariffs and retailers’ warnings: The truth behind the US economy and whether a recession is coming

The economy under Trump’s first month in office is not what he promised on the campaign trail and it looks to be an uncertain year for the average American, economists told The Independent

Fortune

Last year, GDP expanded by 2.8% and the private sector added 1.5 million jobs—but Trump’s Treasury secretary claims that growth was ‘brittle underneath'

Scott Bessent said the private sector “has been in a recession.”

Fortune

Treasury Secretary Scott Bessent sees inflation plummeting to the Federal Reserve’s 2% target despite Trump’s tariffs

Bessent blamed “four years of disastrous policies,” for scorching inflation, claimed the current administration was working everyday to lower prices, and China would eat any tariffs.

Fortune

Warren Buffett says tariffs leave consumers footing the bill: ‘The tooth fairy doesn’t pay ’em’

Warren Buffett isn’t one to wade into politics, but as an outsider warned tariffs are likely to prove inflationary.

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Top News

G20 Meeting In South Africa Highlights Global Economic Priorities

G20 meeting in South Africa addresses debt relief, climate change, and global economic resilience with notable absences and challenges.

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