Category: Bessent, Scott

Bessent Defends Faltering Bond Market Intervention

The New York Times – Business:
Testifying before Congress, the Treasury secretary said that he supported giving Americans $5,000 dividends if Republicans win in November.
U.S. Imposes Sanctions on Russia’s VTB Bank Over Ties to Iran

The New York Times – Business:
The move, which targeted a bank that is already under U.S. sanctions, was part of the Trump administration’s Operation Economic Outcast initiative.
10-Year Treasury Yield Reaches 5%, Highest Level in Years

The New York Times – Business:
One of the world’s most important interest rates hit a level recorded only once since the global financial crisis, as investors continued to rebuff the Trump administration’s efforts to sway the bond market.
Inflation Complicates Trump’s Midterms Pitch to Voters

The New York Times – Business:
Gas prices are high, mortgage rates are climbing and inflation remains well above target, complicating the president’s midterm appeal.
Bessent Takes on the Bond Vigilantes

The New York Times – Business:
As a rout in the bond market deepens, the pressure grows on Treasury Secretary Scott Bessent to restore calm.
A $5,000 ‘Trump Dividend’? The Bond Market May Like a Word.

The New York Times – Business:
President Trump’s latest political gambit could cost more than $1 trillion, and further roil a volatile bond market.
Down in the Polls, Republicans Embrace a Familiar Tool: Fear

The New York Times – On the Runway:
At an unusual midterm gathering, President Trump and his allies painted Democrats as dangerously un-American.
Treasury Plans $6 Billion in Debt Repurchases to Battle Rising Yields

The New York Times – Business:
Bond yields rose after the announcement, suggesting investors were underwhelmed by the size of the purchases.
China’s Surging Exports Loom Over Trump’s Talks With Xi

The New York Times – Business:
China’s exports grew by a quarter in the month of August, weeks before its leader, Xi Jinping, is set to meet with President Trump in Washington.
Canada’s Retaliatory Tariffs Set to Take Effect as Trump Threatens to Escalate

The New York Times – On the Runway:
New Canadian levies of up to 50 percent are expected to begin Tuesday, even as Washington warns of a new round of American tariffs.
Bessent Blames Ukraine for High Energy Prices

The New York Times – Business:
After meeting with Russia’s finance minister, the Treasury secretary said Ukraine’s attacks on Russian oil infrastructure were contributing to a global energy shock driven mainly by the US war with Iran.
G20 Finance Officials Gather in U.S. as Iran War Grips Global Economy

The New York Times – Business:
The meeting is expected to focus on the ongoing economic shock from the war in Iran, which has driven up oil prices globally.