News list for "Bescent"
Treasury Secretary Vincent immediately fired at the Federal Reserve, and the White House took advantage of the situation to target Biden, the Labor Bureau and Powell. Click to view...
Mr. Bessant has pointed to the Fed's "mission creep" and "institutional bloat", likening it to a "deadly virus that escaped the lab" and calling for a non-partisan review and stripping of its banking supervision powers. Click to view...
In an interview with NBC News, U.S. Treasury Secretary Vincent Bescent denied that Trump's sweeping trade tariffs are a tax on Americans, and he dismissed concerns from major U.S. companies such as John Deere, Nike, and Black & Decker, which have all said Trump's tariffs will cost them billions of dollars a year. "People draw these conclusions from earnings calls where companies have to present grim scenarios...
On July 20th, according to the Wall Street Journal, people familiar with the matter said that U.S. Treasury Secretary Vincent Bescent has privately suggested to Trump in recent days that there should be no attempt to remove Federal Reserve Chairperson Jerome Powell. Bescent's reasons mainly focus on several themes: the possible impact on the economy and markets, the prospect that the Federal Reserve could already cut interest rates later this year, and the possible political and legal obstacles ...
According to the Wall Street Journal, people familiar with the matter said that U.S. Treasury Secretary Vincent Bescent has privately suggested to Trump in recent days that he should not try to oust Federal Reserve Chairperson Jerome Powell. Bescent's reasons mainly focus on several themes: the possible impact on the economy and markets...
Bank of America's July Global Fund Managers Survey shows that U.S. Treasury Secretary David Bescent is the most popular candidate to succeed Federal Reserve Chair Jerome Powell. President Trump is expected to nominate a new Fed chair in the second half of 2025, while Powell's term ends in May 2026. The survey shows that 26% of respondents believe that Bescent will be the next Fed chair, followed by 17% who support Walsh, 14% who support Waller, and 7% who believe Hassett will be elected.
The US Treasury has announced an agreement with G7 allies that will exempt US businesses from taxes imposed by some countries. In exchange, the Trump administration will remove the "899 retaliation tax provision" from the "Big and American" tax reform bill. US Treasury Secretary Vincent Bescent said on Thursday: "The global minimum tax policy under the OECD Pillar II framework will not apply to US companies. We will in the coming weeks and several...
The US Treasury secretary said the Trump administration was open to a deal to reduce tariffs and denied that the market sell-off had caused the White House to change its approach. Mr. Bescent denied reports that he visited Mr. Trump in Florida at the weekend to urge him to change his message about the tariffs. "I would say the negotiations are the result of a lot of calls coming in to negotiate," he said. "It's not about the market."
US Treasury Secretary Vincent: US President Donald Trump has not called on the Federal Reserve to lower interest rates.
Mr. Bessant is a strong advocate of Mr. Trump's economic agenda, which has focused on tax cuts and steep tariffs. Click to view...
