As the government has been devising plans to keep the dollar dominant, China has been making its own moves to increase global influence of the renminbi.
Category: Bessent, Scott
-
Transition to a New Fed Chair Is Unlikely to Mean Immediate Rate Cuts
The New York Times – Business:The Federal Reserve is expected to hold interest rates steady this week as Jerome H. Powell presides over what is likely to be his last meeting as chair.
-
Bessent Backs Financial Support for Oil-Rich U.A.E.
The New York Times – Business:The Treasury secretary said that currency swap line would benefit both the United Arab Emirates and the United States.
-
Bessent Questions the Cause of Climate Change and Its Economic Toll
The New York Times – Business:The Treasury secretary said it is “difficult to deconstruct” the reasons for global warming, which he described as a belief of the “elite.”
-
Banks Warned About Anthropic’s New, Powerful A.I. Technology
The New York Times – Business:In an unusual move, the Treasury secretary and the Federal Reserve chair gathered bank executives to caution about cyberthreats posed by artificial intelligence.
-
Bessent and Powell’s A.I. Anxiety
The New York Times – Business:The Treasury secretary and the Fed chairman reportedly summoned banking leaders to discuss the potential systemic risks of Anthropic’s new model.
-
Trump’s Signature to Be Added to U.S. Dollars
The New York Times – Business:President Trump is set to be the first sitting president to have his signature appear on America’s currency.