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  • Treasury Secretary Bessent Touts Economic Optimism, Unleashes Scathing Attack on California Governor Newsom

    Treasury Secretary Bessent Touts Economic Optimism, Unleashes Scathing Attack on California Governor Newsom
    Jan 22 2026
    Treasury Secretary Scott Bessent made headlines this week at the World Economic Forum in Davos, Switzerland. On January 21, he spoke with CNBC host Joe Kernen about key issues, including President Donald Trumps interest in acquiring Greenland. Bessent described the idea as strategic, noting its potential for national security and resources. He also assessed the United States economy as strong, with solid growth prospects ahead. During the interview on the Squawk Pod podcast from iHeart, Bessent discussed the search for the next Federal Reserve chair and the administrations plan to cap credit card interest rates at around 10 percent to ease consumer burdens.

    Bessent did not hold back on domestic critics. Fox News reports that on January 20, he sharply mocked California Governor Gavin Newsom, calling him economically illiterate and self-absorbed. Bessent highlighted Californias outward migration, massive budget deficit, largest homeless population in the nation, and recent wildfires in the Palisades that destroyed homes. He accused Newsom of skipping a policy speech to hobnob with global elites while his states residents suffer. In a pointed jab, Bessent compared Newsom to Patrick Bateman from American Psycho mixed with Sparkle Beach Ken from Barbie, adding that Newsom knows less about economics than Kamala Harris. He referenced Newsoms French Laundry dinners during lockdowns as hypocritical.

    Newsom fired back on social media, urging allies to grow a spine against Trump and calling him a T rex that devours the weak. Bessent promised the administration would tackle waste, fraud, and abuse in California.

    These exchanges underscore Bessents aggressive style as Treasury Secretary, blending economic optimism with partisan critiques.

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    2 Min.
  • US Treasury Secretary Touts Strong Economic Growth, Tax Cuts, and Deregulation Under Trump

    US Treasury Secretary Touts Strong Economic Growth, Tax Cuts, and Deregulation Under Trump
    Jan 20 2026
    US Treasury Secretary Scott Bessent spoke today at a press briefing on the sidelines of the World Economic Forum in Davos, Switzerland. Reuters reports he highlighted President Trumps economic policies driving strong growth, with real growth potentially reaching four to five percent this year, translating to seven or eight percent nominal growth. He noted capital markets are unmatched in depth and breadth, making the United States the top place for capital worldwide.

    Bessent emphasized tax certainty from the big beautiful bill passed on July fourth, including no taxes on tips, overtime, or Social Security, plus deductibility for auto loans on American cars. Associated Press coverage details how the Internal Revenue Service delayed withholding guidance, leading to substantial tax refunds of up to one thousand dollars per worker in the first quarter. Workers will then see automatic increases in weekly or monthly paychecks, boosting household finances.

    On trade, he dismissed panic over tariffs, saying relations with China are stabilized through President Trumps good ties with party chair Xi. He addressed rumors of European Union and United Kingdom plans to dump US treasuries over Greenland, calling it a false narrative with no real talk among European governments. Fox Business reports Bessent stressed President Trump views Greenland as essential to Western Hemisphere security.

    In digital assets, Bessent pointed to the Genius Act for stable coins, passed with bipartisan support, and ongoing clarity legislation. He confirmed the policy to add seized bitcoin, such as from Tornado Cash developers by the Southern District of New York, to a digital asset reserve after damages are addressed. Deregulation efforts have added two point five trillion dollars in lending capacity per Oliver Wyman, fueling an AI and energy boom with capex up dramatically.

    Bessent criticized the prior Biden administration for creating an affordability crisis with the biggest inflation in forty nine years, from which Americans still suffer post traumatic stress. He projected policies will accelerate prosperity, with bottom households seeing net worth gains faster than the top ten percent.

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    2 Min.
  • Headline: Treasury Secretary Reveals Trump's Frustrations with Federal Reserve Chair, Teases Imminent Fed Chair Announcement

    Headline: Treasury Secretary Reveals Trump's Frustrations with Federal Reserve Chair, Teases Imminent Fed Chair Announcement
    Jan 18 2026
    Treasury Secretary Scott Bessent revealed that President Donald Trump discusses the Federal Reserve with him every day, expressing strong dissatisfaction with Chair Jerome Powell. According to Cryptopolitan, Bessent shared this during an appearance on Kudlow, noting Trumps frustration both personally and with Powells leadership at the central bank. Powell faces a Department of Justice criminal investigation for allegedly misleading Congress about a major renovation at the Feds Washington headquarters. Bessent declined to defend Powell, saying he lacks expertise in construction and criticizing the Feds operations as needing substantial improvements and a thorough internal overhaul. He hopes the scandal will spur the long-called-for review, emphasizing the Feds impact on every American yet lack of accountability.

    Bessent confirmed final interviews for a new Fed chair are complete, with Trump ruling out Kevin Hassett and planning an announcement in January, possibly around Davos. Cryptopolitan reports Trump has been methodical in his choices.

    On Iran, HonestReporting states Bessent confirmed the United States is tracking tens of millions of dollars linked to Irans leadership moving out of the country into foreign banks. This follows sanctions-evasion via crypto networks tied to the Islamic Revolutionary Guard Corps and offshore accounts, signaling regime insiders concerns amid rising regional tensions, including United States Navy increases in the Persian Gulf.

    MarketWatch reports Trump announced 10 percent tariffs on imports from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland starting February 1, escalating to 25 percent on June 1 unless Denmark sells Greenland to the United States. Bessent indicated the administration could use other authorities for tariff revenue if the Supreme Court rules against Trumps use of the International Emergency Economic Powers Act, with a decision possibly imminent. Markets showed anxiety, with the 10-year Treasury yield rising to 4.23 percent.

    Bessent appeared on Meet the Press with Kristen Welker this Sunday, as announced by NBC News.

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    2 Min.
  • Headline: Treasury Secretary Slams Fed Chair Powell, Hints at Sweeping Reforms Amid Sanctions, Tariff Threats

    Headline: Treasury Secretary Slams Fed Chair Powell, Hints at Sweeping Reforms Amid Sanctions, Tariff Threats
    Jan 18 2026
    Treasury Secretary Scott Bessent revealed that President Donald Trump discusses the Federal Reserve with him every day. According to Cryptopolitan, Trump has expressed strong dissatisfaction with Fed Chair Jerome Powell, who faces a Department of Justice criminal investigation for allegedly misleading Congress about a major renovation at the Feds Washington headquarters. Bessent avoided defending Powell, saying he lacks expertise in construction and that the Fed needs a full internal review and overhaul. He stressed that the institution affects every American but lacks accountability, hoping the scandal pushes for reforms.

    On Iran, HonestReporting states Bessent confirmed the United States is tracking tens of millions of dollars linked to Irans leadership moving out of the country into foreign banks. This follows sanctions evasion via crypto networks tied to the Islamic Revolutionary Guard Corps and offshore accounts, signaling regime concerns amid rising regional tensions, including United States Navy increases in the Persian Gulf.

    MarketWatch reports Trump announced 10 percent tariffs on imports from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland starting February 1, escalating to 25 percent by June 1 unless Denmark sells Greenland to the United States. Bessent indicated the administration could use other authorities for tariff revenue if the Supreme Court rules against Trumps use of the International Emergency Economic Powers Act. Markets reacted with Treasury yields rising to 4.23 percent, as investors await a possible court decision this week.

    Bessent is scheduled for an interview today on Meet the Press with Kristen Welker, per NBCUniversal News Group.

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    2 Min.
  • Treasury Secretary Bessent Navigates Critical Mineral Diplomacy, Tax Cuts, and Iranian Sanctions

    Treasury Secretary Bessent Navigates Critical Mineral Diplomacy, Tax Cuts, and Iranian Sanctions
    Jan 15 2026
    Scott Bessent, the United States Secretary of the Treasury, has been active in international diplomacy and domestic economic initiatives over the past few days. On Monday, January 12, he met with Australian Treasurer Jim Chalmers in Washington to discuss opportunities in critical minerals and shared economic and national security concerns. According to the Treasury Department press release, Secretary Bessent praised Australias commitment to building secure supply chains for these vital resources.

    That same day, Secretary Bessent held talks with Frances Minister of Economy, Finance, and Industrial and Digital Sovereignty Roland Lescure. The Treasury Department readout highlighted coordination on G7 and G20 priorities for 2026, including global economic imbalances and follow-up on the critical minerals finance ministerial.

    Also on January 12, he conferred with Japans Finance Minister Satsuki Katayama, reaffirming the strong United States-Japan alliance. The Treasury statement noted appreciation for Japans role in the critical minerals summit and on global minimum tax issues through the Organization for Economic Cooperation and Development. Secretary Bessent stressed the need for sound monetary policy communication to avoid excess exchange rate volatility, as reported by Reuters. This came amid concerns over the yens recent weakness, with markets watching for potential Japanese intervention.

    Domestically, Secretary Bessent announced the launch of Treasurys Working Family Tax Cuts: Ushering in a New Golden Age platform. The Treasury press release describes it as a tool to showcase President Trumps pro-family, pro-worker, and pro-growth policies, including permanent tax cuts signed into law on July 4, 2025, aimed at bigger paychecks and economic revival.

    On the international front, Secretary Bessent told Newsmax that United States Treasury has tracked tens of millions of dollars wired out of Iran by its leaders, calling it rats fleeing the ship amid deadly protests and economic collapse. The Jerusalem Post reported he linked this to President Trumps maximum pressure campaign on Irans oil exports.

    Earlier this week, on January 9, he outlined new actions against fraud in federal aid programs, intensifying oversight on banks anti-money laundering efforts, per JD Supra analysis from Ballard Spahr.

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    3 Min.
  • US Treasury Secretary Bessent Leads Domestic and International Policy Initiatives Amid Economic Uncertainties

    US Treasury Secretary Bessent Leads Domestic and International Policy Initiatives Amid Economic Uncertainties
    Jan 15 2026
    US Treasury Secretary Scott Bessent has been actively engaged in high-level international meetings and domestic policy initiatives this week. On Monday, January 12th, Bessent met with Treasurer Jim Chalmers of Australia to discuss critical minerals opportunities and mutual concerns regarding economic and national security. During that same day, he also met with Finance Minister Satsuki Katayama of Japan, where he reaffirmed confidence in the US-Japan alliance and thanked Japan for attending the United States critical minerals summit.

    On January 14th, Bessent held discussions with Roland Lescure, France's Minister of Economy, Finance, and Industrial and Digital Sovereignty. The conversation focused on G7 and G20 coordination and mutual economic policy priorities. Bessent emphasized the importance of coordinating across the G20 and G7 presidencies in 2026, particularly regarding global imbalances.

    On the domestic front, Bessent announced Treasury's Working Families Tax Cuts initiative, which he described as a platform designed to provide Americans with a clear view into President Trump's economic agenda. The initiative highlights permanent tax cuts signed into law on July 4th, 2025, which will result in bigger tax refunds and paychecks for workers in 2026. The program covers multiple areas including expanded pocketbooks through permanent tax cuts, economic security through Trump Accounts, a Main Street revival, and made in America research and development initiatives.

    Additionally, on January 9th, Bessent announced a series of new federal actions focused on schemes to defraud federal aid programs. The Treasury Department is implementing intensified oversight of financial institutions' compliance with anti-money laundering regulations. This initiative follows high-profile investigations, including the Feeding Our Future scheme which cost taxpayers an estimated 250 million dollars. The new approach places banks on the front lines to detect and deter financial fraud, with expectations for heightened regulatory scrutiny and closer coordination between bank examiners and law enforcement.

    In international financial matters, Bessent stated that the Treasury Department has tracked tens of millions of dollars being wired out of Iran by Iranian leaders, describing the situation as evidence of regime instability amid ongoing protests and economic collapse within the country.

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    3 Min.
  • Treasury Secretary Assures Sufficient Funds for Tariff Refunds, Highlights Fraud Crackdown

    Treasury Secretary Assures Sufficient Funds for Tariff Refunds, Highlights Fraud Crackdown
    Jan 13 2026
    U.S. Treasury Secretary Scott Bessent addressed concerns over potential refunds for President Donald Trumps emergency tariffs in a Reuters interview on Friday. He assured that the Treasury holds nearly 774 billion dollars in cash as of Thursday, with projections for an end of March balance around 850 billion dollars, more than enough to cover any court ordered payouts. Bessent doubted the Supreme Court would rule against the tariffs imposed under the International Emergency Economic Powers Act, calling refunds a corporate boondoggle since companies like Costco likely passed costs to customers without much pass through to consumers. Reuters reports he noted goods inflation stayed below headline inflation, disputing links to broader price rises. The court delayed its tariff decision, but Bessent believes delays favor Trumps position, with refunds possibly spread over weeks, months, or a year if needed.

    On Monday, Bessent announced Treasury initiatives to combat government benefits fraud in Minnesota, following detection of Somali fraudsters sending federal support funds overseas. According to Debevoise and Plimpton, these measures aim to strengthen the financial system and protect taxpayers, tying into a new White House backed Division for National Fraud Enforcement at the Justice Department. The Cato Institute raised alarms, with scholar Nicholas Anthony criticizing it as expanding financial surveillance under the Bank Secrecy Act, potentially restricting Americans from sending money abroad.

    Meanwhile, Politico reports White House tensions over a Justice Department probe into Federal Reserve Chair Jerome Powell, which blindsided aides and rattled bond market expectations. Bessent had prepared for a smooth Fed transition, anticipating Trumps announcement of a replacement before or after Davos, but the feud risks market instability.

    Bessent also expects 2025 budget data to show a deficit reduction of 300 to 400 billion dollars from 2024, boosting fiscal capacity. The Denver Gazette echoes his confidence on tariff refunds amid lawsuits from Costco, Kawasaki Motors, Revlon, and others.

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    2 Min.
  • Treasury Secretary Defends Tariff Refunds, Battles Fraud and Fed Probe

    Treasury Secretary Defends Tariff Refunds, Battles Fraud and Fed Probe
    Jan 13 2026
    Treasury Secretary Scott Bessent addressed concerns over potential refunds for President Donald Trumps emergency tariffs in a Reuters interview on Friday. He assured that the United States Treasury holds nearly seven hundred seventy four billion dollars in cash as of Thursday, more than enough to cover any refunds if the Supreme Court rules against the tariffs imposed under the International Emergency Economic Powers Act. Bessent noted that repayments would occur gradually over weeks, months, or even a year, not all at once. He doubted the court would side against Trump, calling any refunds a corporate boondoggle since companies like Costco, which sued the government, would unlikely pass savings to customers. Bessent disputed claims of high tariff pass through to consumers, stating it was very very little if any, and rejected links to inflation.

    On the fraud front, Bessent announced Treasury initiatives on January ninth to combat government benefits fraud in Minnesota, following detection of Somali fraudsters. These measures aim to prevent recipients of federal support funds from sending money overseas via remittances and strengthen the financial system to protect taxpayers. The Cato Institute criticized the move as building a legacy of financial surveillance and control, expanding Bank Secrecy Act oversight.

    Bessent expressed frustration over a criminal investigation into Federal Reserve Chair Jerome Powell, according to CNN sources on January thirteenth. He told associates he is unhappy with the Justice Department probe into Powells handling of a Federal Reserve building renovation, fearing it could unsettle markets and the global economy. Politico reports White House aides are freaked out about bond market risks, disrupting Bessents plans for a smooth Fed transition as Powells term ends in May. Republicans like Senator Thom Tillis voiced opposition, urging quick resolution to avoid political interference with Fed independence.

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    2 Min.