Tag

Scott Bessent

All articles tagged with #scott bessent

politics23 days ago•59 min saved

Spirit Airlines Collapse Cast as Warren Letter Fallout, Says Treasury Official

Treasury Secretary Scott Bessent blamed Elizabeth Warren’s September 2022 letter opposing Spirit’s merger with JetBlue for Spirit Airlines’ collapse four years later, arguing the Biden administration blocked a deal that could have preserved thousands of jobs; Spirit cited rising fuel costs tied to the Iran war and a failed government rescue as the immediate causes, while noting Commerce, not Treasury, was attempting to put together a bailout deal and that JetBlue’s involvement could have strengthened Spirit.

via The Daily Beast|

#elizabeth-warren #jetblue #pete-buttigieg

politics1 month ago•67 min saved

Doocy Grills Trump Aide on Shifting Gas-Price Promises Amid Oil Market Turmoil

Fox News’ Peter Doocy pressed Treasury Secretary Scott Bessent on when gas would fall to $3 a gallon, but Bessent dodged a firm timeline, offering a broad window (June 20 to Sept. 20) while blaming gas stations for price spikes; the backdrop is surging pump prices—about $4+ per gallon nationwide—driven by Iran-related oil disruptions and Strait of Hormuz tensions, as the IMF warns of global economic risks and Trump defends the price increases as necessary for national security.

via The Daily Beast|

#donald-trump #gas-prices #iran-war

politics2 months ago•11 min saved

Bessent urges empathy for Trump as Mueller death sparks political debate

Treasury Secretary Scott Bessent defended Trump’s post celebrating Mueller’s death on Meet the Press, saying the president and his family have endured investigations and the Mar-a-Lago raid, and urged empathy for what they’ve been through, while not explicitly endorsing the death celebration.

via The Independent|

#donald-trump #mar-a-lago-raid #meet-the-press

politics3 months ago•11 min saved

Democrats Grill Bessent in Fiery Capitol Hill Hearing

During a House Financial Services Committee hearing, Democratic lawmakers pressed Treasury Secretary Scott Bessent on oversight of the U.S. financial system, with heated exchanges and interruptions that underscored partisan tensions.

via The Independent|

#capitol-hill #house-financial-services-committee #janet-yellen

economy3 months ago•40 min saved

Tariffs, Inflation, and Tempers: Bessent in the Hot Seat

At a House Financial Services Committee hearing, Treasury Secretary Scott Bessent clashed with Maxine Waters over tariffs inflationary impact, with Waters pressing about a claimed warning that tariffs are inflationary and Bessent denying that wording while arguing tariffs inflation effect is modest; the exchange highlights the ongoing debate over tariffs price effects on housing and consumers.

via Fortune|

#economy #house-financial-services-committee #inflation

politics3 months ago•14 min saved

Bessent's Toy-Free Gift Pitch Triggers Backlash Over Trump Accounts

Multimillionaire Scott Bessent argued on Fox News that families should donate to Trump Accounts rather than buy toys for children, a pitch that drew online backlash and raised questions about feasibility and how the plan would work alongside a cost‑of‑living reality.

via HuffPost|

#backlash #politics #scott-bessent

world3 months ago•4 min saved

Bessent: US sticks to strong-dollar policy, no yen intervention planned

Scott Bessent said the Trump administration remains committed to a strong-dollar policy and is not intervening in dollar–yen markets, fueling a dollar rally as traders reassessed intervention risk; he argued that sound fundamentals and policy will attract capital and strengthen the dollar over time, while speculation of official FX action has been denied.

via Financial Times|

#foreign-exchange #scott-bessent #us-dollar

business4 months ago•10 min saved

Bessent’s Davos Drive: Calming Markets Amid Greenland Gales

At Davos, Treasury Secretary Scott Bessent positions himself as Trump’s market whisperer, framing Greenland threats as a national emergency and urging investors to stay calm, while privately guiding a discreet Fed chair search and helping the administration ride volatility as markets briefly fell on tariff talk but recovered by week’s end.

via CNN|

#business #davos #greenland

world4 months ago•2 min saved

Argentina Fully Repays $20 Billion Credit Line Amid Market Recovery

Argentina has fully repaid its $20 billion credit line from the Trump administration, a move seen as a positive step towards restoring confidence in its economy, though challenges like low foreign reserves remain.

via Fortune|

#argentina #debt-repayment #economic-recovery

politics5 months ago•1 min saved

Treasury's Scott Bessent Surprises as MAGA Advocate

U.S. Treasury Secretary Scott Bessent, known for his market-savvy approach, has unexpectedly become a supporter of MAGA politics, highlighting the bipartisan nature of influence and policy within the Trump administration.

via The Washington Post|

#maga #partisan #politics

business6 months ago•1 min saved

Scott Bessent Criticizes China's Rare Earths Strategy and Trump’s Trade Plans

Scott Bessent criticizes China's decision to 'fire shots' on rare earths, suggesting it was a significant mistake that could have broader economic and geopolitical repercussions.

via Financial Times|

#business #china #economic-policy

politics7 months ago•3 min saved

Scott Bessent, a Billionaire, Claims to Understand Soybean Farmers' Struggles

Scott Bessent, a wealthy former hedge fund manager and landlord, claims to understand soybean farmers' pain due to tariffs that have hurt U.S. soybean exports to China, despite not being a farmer himself. His holdings and partial failure to divest from assets raise ethical concerns amid ongoing trade negotiations and political scrutiny.

via Rolling Stone|

#conflict-of-interest #ethics #politics

business7 months ago•1 min saved

US and China Reach Trade Deal Framework, Easing Tensions and Market Uncertainty

Treasury Secretary Scott Bessent announced that additional 100% tariffs on China are 'effectively off the table' following positive trade talks with Beijing, and expects the threat of such tariffs and Chinese export controls to diminish, with key discussions including trade issues and the TikTok deal.

via CBS News|

#business #scott-bessent #tariffs

politics7 months ago•4 min saved

Soybean Farmer Bessent Highlights China's Planned U.S. Purchases and Tariff Concerns

Treasury Secretary Scott Bessent, who owns soybean farmland, expressed personal pain over China's refusal to buy US soybeans during trade conflicts, but recent negotiations with China have led to a framework that may alleviate farmers' concerns, signaling potential positive developments for US soybean farmers.

via CNBC|

#china-soybean-trade #politics #scott-bessent

world7 months ago•1 min saved

US and China Reach Framework Deal on Rare Earths and Tariffs

US Treasury Secretary Scott Bessent announced a significant trade framework with China that avoids 100% tariffs and defers China's rare earth export controls, paving the way for further discussions between President Trump and President Xi Jinping on trade issues.

via Reuters|

#rare-earths #scott-bessent #tariffs