U.S. Treasury Secretary Scott Bessent stated that the Trump administration is prioritizing low Treasury yields over the Federal Reserve’s actions. In an interview, he emphasized that instead of urging the Fed to cut rates, the focus is on managing the 10-year Treasury yield, which the administration sees as key to economic stability. Despite recent Fed ...
U.S. Treasury Secretary Scott Bessent recently shared that the Trump administration is focused on lowering borrowing costs by reducing the yield on the 10-year Treasury note. This yield affects most long-term loans, including mortgages and business loans, making it crucial for economic growth. A lower yield is generally positive for risk assets like bitcoin, as ...
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 ...
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 ...
Scott Bessent, a hedge fund manager, recently testified before the Senate Finance Committee as part of his nomination for Secretary of the Treasury. If confirmed, he would be the first openly gay Cabinet official in a Republican administration. Bessent discussed the importance of tax cuts proposed by President Trump, stating that failing to implement these ...
Scott Bessent, nominated for Treasury Secretary, expressed openness to eliminating the debt ceiling, a view shared by Donald Trump and some lawmakers. He emphasized that this change wouldn’t authorize new government spending. Bessent also argued against a U.S. central bank digital currency, stating the need for such a currency arises in countries lacking investment options. ...
