Trump treasury pick Scott Bessent calls for stronger Russia sanctions, Fed independence at confirmation panel
Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.
Trump Treasury Pick Bessent Backs Fed Independence, Dollar, Sanctions on Russian Oil
WASHINGTON (Reuters) -President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the Federal Reserve should stay independent and that he is ready to impose tougher sanctions on Russia's oil sector.
US Treasury nominee backs Fed independence, dollar, Russia sanctions
U.S. President-elect Donald Trump's nominee for Treasury secretary said on Thursday that the dollar should continue to be the world's
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Russia is on pace to run out of financial reserves by this fall, which would cripple war efforts, economist says
Russia could run out of liquid reserves as soon as this fall, one European economist has said. The nation's liquid reserves have dwindled to $31 billion, down from $117 billion in 2021. Limited ...
Trump's treasury secretary pick says more Russia sanctions possible
US President-elect Donald Trump's pick for treasury secretary, Scott Bessent, took part in a confirmation hearing with lawmakers on Thursday. He said additional sanctions on Russia could be imposed to help end the war in Ukraine.
Russia's elites say they are tired of waiting for the war to end: report
High-ranking sources told independent Russian outlet Meduza that Russia's elites are disappointed the Ukraine war didn't end in 2024 and feel fatigue.
Federal Reserve withdraws from global regulatory climate change group
The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system.
Trump Can Make Russia Pay to Rebuild Ukraine
The West has frozen $300 billion of Moscow’s assets, but Europe has stood in the way of using them.
Trump Treasury pick Bessent backs US Fed independence, dollar, sanctions on Russian oil
Mr Scott Bessent is a hedge fund manager and founder of Key Square Capital Management. Read more at straitstimes.com.
Scott Bessent faces bipartisan scrutiny in US Treasury confirmation hearing
U.S. Treasury nominee Scott Bessent on Thursday faced sharp questions from both Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the future of an IRS tax filing system that Republicans have called to be cut. And in turn, Bessent defended of President-elect Donald Trump's economic policies and proposals.
National Politics
Biden’s use of the word “oligarchy” was no accident — it’s a direct reference to the form of government in Russia, whose leader Trump has long spoken warmly about.
World economy steady, IMF says
The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year. But it warned that the outlook is clouded by President-elect Donald Trump's promises to cut U.