Treasury secretary nominee corrects Democrat about ‘clean energy race’ against China
President-elect Donald Trump's nominee to head the Treasury Department reminded a Democratic senator during his confirmation hearing Thursday that China is not doing its part to join the “clean energy race.” There was a need. Sen. Ron Wyden (D-Ore.) asked Scott Bessent. Whether you support eliminating tax credits for low- or zero-emission products. “Free trade […]
Trump Treasury Sec Nominee Fires Back At Dem Sen Who Tries Gotcha Question On ‘Clean Energy’ Race With China
Treasury Secretary nominee Scott Bessent told Democratic Oregon Sen. Ron Wyden during his confirmation hearing Thursday that the United States is not in a clean energy “arms race” with China. President-elect Donald Trump intends to direct unused funds from President Joe Biden's climate change law, the Inflation Control Act (IRA), to infrastructure spending, the Daily […]
Gold (XAU) Silver (XAG) Daily Forecast: Can Gold Stay Above $2,677 Pivot Amid Rising Treasury Yields? – FX Empire
Those strong numbers supported the dollar, which is hovering near two-year highs, and pushed up U.S. Treasury yields. As a result, non-yielding assets like gold are less attractive to investors. Despite these pressures, uncertainty surrounding the US economic outlook and global geopolitical tensions have not diminished gold's appeal as a safe-haven asset. Silver falls on […]
Treasury Pick Scott Bessent to Divest BlackRock Bitcoin ETF Before Trump's Inauguration – Decrypt
With less than a week left until President-elect Donald Trump's inauguration, billionaire hedge fund manager and Treasury Secretary candidate Scott Bessent is investing in a variety of stocks, including shares in the BlackRock Bitcoin ETF (IBIT). Preparations are underway to sell the assets. The sale follows federal ethics guidelines, which require nominees to sell certain […]
Bessent to divest from assets on road to leading Treasury
Scott Bessent, President-elect Trump's nominee for Treasury secretary, plans to exit the fund and other investments as he prepares to become the country's top economic official. In an agreement released Saturday by the Office of Government Ethics ahead of Bessent's confirmation hearing on Thursday, he outlined his plans. Mr. Bessent, a billionaire hedge fund manager, […]
Gold News: Trump Policy Risks Drive Prices Higher Despite Treasury Yield Spike – FX Empire
Will strong jobs numbers force the Fed to keep interest rates on hold? Nonfarm payrolls exceeded expectations in December, increasing by 256,000 compared to economists' expectations of 160,000. The unemployment rate fell to 4.1% and average hourly wages increased by 0.3%. This strong performance made it less likely that the Fed would cut rates immediately, […]
UK Treasury Chief Says London the ‘Natural Home’ for Chinese Finance
(AFP) – British Treasurer Rachel Reeves said Saturday that London is a “natural home” for Chinese finance during a visit to Beijing in the shadow of turmoil in her home country's bond market. Reeves, whose official title is Chancellor of the Exchequer, will be the most senior British government official to visit China since then […]
Congress Demands Answers from Treasury After Chinese Hacker Attack
Sen. Tim Scott (R-S.C.), ranking member of the Senate Banking, Housing, and Urban Affairs Committee, and Rep. French Hill (R-Ark.), vice chairman of the House Financial Services Committee, met on Thursday. I wrote demanded from Treasury Secretary Janet Yellen details of a cyberattack on the Treasury Department's computer systems by hackers with ties to the […]
CISA says 'no indication' other agencies impacted by Treasury hack
The Cybersecurity and Infrastructure Security Agency (CISA) said Monday there is “no indication” that other federal agencies were affected by the recent breach at the Treasury Department. The Treasury Department revealed last week that Chinese government-backed actors hacked into Treasury Department workstations in early December and accessed unclassified documents. The agency said in a letter […]
Trump announces new treasury and ambassador nominees
President-elect Trump announced several appointments to the Treasury Department and the selection of ambassadors to two European countries. In multiple Thursday social posts, President Trump outlined who will be working with Treasury Secretary Scott Bessent and the selection of ambassadors to Spain and the Netherlands. President Trump has nominated Ken Keyes to be his undersecretary […]