Category: Treasury Department

Bessent Attended a Supreme Court Argument. Now He’s Telling Powell Not To.

Treasury Secretary Scott Bessent said it was a mistake for Jerome Powell to attend arguments in a case on Fed independence. But Mr. Bessent attended a tariff case.
Big Plan for Fannie and Freddie I.P.O. in Flux as Trump Pushes Affordability

Six months after President Trump told Wall Street banks to prepare a swift stock offering, there is no firm plan for how to take the giant mortgage firms public.
Blowback Builds Over Criminal Investigation of Powell

Trump allies fear that the inquiry into the Fed chair could complicate the process of replacing him this year.
Push to Audit Private Equity and Venture Capital Falters Under Trump

Specialists have left the I.R.S. and audits have been abandoned since the president returned to office.
A Seized Oil Tanker and the Big Business of Dark Fleet Smuggling

The U.S. seizure of a vessel off Venezuela is likely to squeeze the country’s government, but do little to counter the tankers that secretively move oil from sanctioned countries.
Bessent Accelerates Regulation Overhaul to Jumpstart Growth

The Treasury Secretary unveiled changes to the Financial Stability Oversight Council to ease “overregulation.”
Bessent Says He Divested From Soybean Farms After Ethics Office Warning

The Treasury Secretary said on Sunday he recently shed his holdings to comply with his federal ethics agreement.
Scott Bessent on Tariffs, the Fed and the Economy

The U.S. treasury secretary spoke with Andrew Ross Sorkin at the DealBook Summit on Wednesday.
For ‘No Tax on Tips,’ the I.R.S. Gets Intimate

The Trump administration wants to exclude earnings from “pornographic activity” from a new tax break for tips. Will the I.R.S. know it when it sees it?
As Prices Pinch, Bessent Looks for Ways to Mollify Wary Consumers

Treasury Secretary Scott Bessent has offered a variety of creative justifications for President Trump’s import duties.
The Growing Cost of Keeping Close Ties with Jeffrey Epstein

Larry Summers, a former Treasury secretary, is stepping back from public commitments. It’s the latest fallout for an associate of Jeffrey Epstein.
Trump Turns to Affordability Message Amid Economic Frustration

The Trump administration is facing backlash from American consumers as higher costs from tariffs blunt wage gains.