Treasury Dept recoups $31 million in payments to dead people
The Treasury Department announced this week that it has recovered more than $31 million in fraudulent and improper payments to deceased persons in just five months after accessing the Social Security Administration's (SSA) federal death database. The Treasury Department makes billions of dollars in payments each year, including benefits, federally funded state payments, and other […]
Treasury Nominee Bessent Defends Tariffs, Nuclear Energy in Hearing
Treasury Secretary nominee Scott Bessent opened his confirmation hearing in the Senate Finance Committee with a powerful attack on the radical left by defending the value of tariffs and nuclear energy. While many in the Democratic Party and Washington's elites support radical free trade and so-called “green energy,” Bessent rejects their elitist views and supports […]
Trump Treasury secretary nominee won’t support raising minimum wage
Scott Bessent, President-elect Trump's nominee for Treasury secretary, said Thursday that he does not support raising the minimum wage. If confirmed, Bessent would not have the power to raise wages, which would require a vote from Congress. But Sen. Bernie Sanders (Iconic, Vt.), who introduced a bill to raise the minimum wage to $15 in […]
Trump Treasury Pick Disputes Dem Argument U.S. Is in Clean Energy ‘Arms Race’
Treasury Secretary nominee Scott Bessent on Thursday disputed claims by Sen. Ron Wyden (D-Ore.) that the U.S. is in a clean energy “arms race” with China, saying China will increase coal production this year. He criticized the expected construction of 100 thermal power plants. During a Senate Finance Committee hearing, Wyden asked Bessent about the […]
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, […]