Bessent
6 briefs
Trump Is About to Make Banks the Immigration Police.
An executive order requiring banks to collect citizenship data from all customers would turn the financial system into a deportation tool. Bessent says it's reasonable. Immigrant advocates say it creates an underclass with no safe place to keep money.
The Waiver Is Gone. India Is Next.
Bessent just ended the sanctions relief that let India buy Russian and Iranian oil. He also threatened secondary sanctions on the banks that helped them do it.
Tariffs Struck Down, Tariffs Coming Back
The Supreme Court ruled Trump's emergency tariff powers unconstitutional. The administration is already routing around the ruling.
The IMF Is Describing a Recession. Bessent Is Calling It a Strategy.
The IMF cut global growth forecasts and warned the Iran war could tip the world into recession. The US Treasury Secretary told the BBC the pain is worth it.
The Government Just Told Banks an AI Model Is a Systemic Risk
When the Treasury Secretary and the Fed Chair summon Wall Street CEOs in secret over an AI model's capabilities, they are saying something they cannot say publicly: this technology can already break things we cannot fix.
Coinbase Just Endorsed the Bill It Killed Twice. The Treasury Secretary Made the Ask.
Brian Armstrong spent months blocking the CLARITY Act over stablecoin yield rules that threatened $1.35 billion in Coinbase revenue. After Scott Bessent publicly pushed for it, Armstrong reversed. The yield question is still unresolved.