Articles for tag: economic policy, Federal Reserve, interest rates, tax cuts, Treasury Secretary Scott Bessent, treasury yields, Trump Administration

Market News

Trump’s Focus on 10-Year Yield: No Pressure on Fed for Rate Cuts, Says Bessent

U.S. Treasury Secretary Scott Bessent announced that the Trump administration is focusing on keeping Treasury yields low rather than relying on the Federal Reserve’s actions. In a recent interview, he emphasized that the administration is targeting the 10-year Treasury yield, which is crucial for various loans and mortgages. Bessent stated that instead of pressuring the ...

Market News

Critics of Strategic Bitcoin Reserves: Misunderstandings and Misconceptions Explained for Investors and Decision Makers

At the Bitcoin 2024 conference, Senator Cynthia Lummis proposed that the U.S. should establish a strategic bitcoin reserve (SBR) to support its currency, similar to how central banks hold gold and foreign exchange. While some critics raise valid concerns about the government’s role in managing taxpayer funds, the argument for an SBR centers on bitcoin’s ...

Market News

U.S. Senate Confirms Scott Bessent as Treasury Secretary Focusing on Cryptocurrency Regulation and Economic Growth

The U.S. Senate has confirmed Scott Bessent as the new Treasury Secretary, following a vote of 68 to 29. Nominated by President Donald Trump, Bessent, a billionaire hedge fund manager known for his pro-cryptocurrency views, replaces Janet Yellen. He believes digital assets promote financial freedom and has voiced opposition to central bank digital currencies, viewing ...

Market News

Scott Bessent Faces Tough Questions on Trump’s Tax Cuts and Tariffs During Treasury Secretary Nomination Hearing

Scott Bessent, a hedge fund manager and economic advisor to President-elect Donald Trump, is nominated to be the Secretary of the Treasury. During his confirmation hearing on January 16, 2025, Bessent addressed key issues like Trump’s proposed tax cuts and their potential impact on the economy. He emphasized the importance of renewing these tax cuts ...

Market News

Bitcoin Reserve Proposal 2024: Key Insights and Future Directions for Cryptocurrency Adoption and Financial Innovation

Former U.S. Treasury Secretary Lawrence Summers recently labeled the idea of establishing a national Bitcoin reserve as “crazy” during an interview. Despite skepticism, the concept is gaining traction, especially after Bitcoin exceeded the $100,000 mark and the introduction of the Bitcoin Act of 2024, proposing a significant government investment in the cryptocurrency. Advocates argue that ...

Market News

Trump’s Strategic Bitcoin Stockpile: Will Japan and Asia Follow Metaplanet CEO’s Insight?

Former President Donald Trump’s potential move to create a Bitcoin strategic reserve could influence Japan and other Asian countries to follow suit, according to Simon Gerovich, CEO of Metaplanet. This Tokyo-based firm, often dubbed Asia’s MicroStrategy, recently saw its share price soar by 1,900% thanks to its Bitcoin investments. Metaplanet holds 1,762 BTC worth around ...

Market News

Yellen Warns Trump to Avoid Interfering with Financial Regulations for Economic Stability and Growth

Treasury Secretary Janet Yellen has urged the next administration to maintain key financial regulations that oversee banks’ capital, liquidity, and risk management. In a recent interview, she acknowledged the current system’s flaws but stressed that it is not fundamentally broken. Yellen cautioned against drastic changes, especially concerning bank deposit insurance, citing the potential for financial ...

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