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The Latest Breaking News from Scott Bessent

Trump aides scramble to defend tariffs after bombshell court ruling – and as crucial jobs report looms

Trump claims the tariffs generate revenue even as the economy has shown signs that they will increase prices for consumers

The Independent UK

Scott Bessent Worries About A Lot Of Things But The Indian Rupee Emerging As A BRICS Rival To Dollar Isn't One Of Them: Here's Why

U.S. Treasury Secretary Scott Bessent isn’t losing sleep over the Indian Rupee challenging the U.S. Dollar’s dominance as a global reserve currency.

Benzinga

Trump team has fined immigrants who didn’t self-deport $6 billion — and now it’s coming to collect

Department of Homeland Security threatens lawsuits and massive tax bills to collect balances ‘owed’ by thousands of immigrants

The Independent UK

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Scott Bessent Says Acquiring Stake In Nvidia 'Not On The Table,' Hints Shipbuilding Sector Could Be Next

Treasury Secretary Scott Bessent explained that the Trump administration prioritizes building assets for Americans over accumulating debt, outlining the rationale for the government acquiring stakes in private companies.

Benzinga

Stablecoins Could Grow To $34 Trillion Market, Arthur Hayes Says

Arthur Hayes, co-founder of BitMEX, says dollar-pegged stablecoins could become a central tool for U.S. monetary policy, absorbing trillions in offshore deposits and reshaping global finance.

Benzinga

Treasury Secretary quashes hopes that Americans will get rebate checks from tariffs

Bessent says debt, not rebate checks, will be administration’s priority for tariff revenue as prices rise for Americans

The Independent UK

Goldman Sachs Projects Stablecoin Market Could Reach Trillions

Goldman Sachs (NYSE:GS) expects the global stablecoin market to expand into the trillions of dollars in the coming years, a forecast that underscores Treasury Secretary Scott Bessent's efforts to position the sector as a major buyer of US government debt.

Benzinga

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Did Trump’s tariff war force India and China to mend ties?

China and India have agreed to resume trade ties and move towards resolving their longstanding border dispute.

Al Jazeera

Scott Bessent Clarifies Why Trump Penalized India, Not China, Over Russian Oil Purchase—'Indian Arbitrage...Unacceptable'

Treasury Secretary Scott Bessent explained the differential treatment in tariffs on India and China, despite both the countries buying Russian oil.

Benzinga

Goldman Sachs says we’re on the verge of a stablecoin gold rush worth trillions

U.S. Treasury Secretary Scott Bessent believes stablecoins will buoy the market for U.S. Treasuries, and the government will sell more short-term debt to meet that demand.

Fortune

S&P Futures Tick Lower Ahead of FOMC Meeting Minutes and More Retail Earnings

September S&P 500 E-Mini futures (ESU25) are trending down -0.13% this morning, continuing to drop after a tech-led selloff in the prior session, while investors await the Federal Reserve’s July meeting minutes, comments from Fed officials, and earnings reports from more retail heavyweights.

Barchart

Russia-Ukraine war: List of key events, day 1,273

Here are the key events on day 1,273 of Russia’s war on Ukraine.

Al Jazeera

Scott Bessent Says Genius Act 'Essential' To Secure US 'Leadership' In Digital Assets, Says It Will Boost Dollar Access For Billions

Treasury Secretary Scott Bessent backed the implementation of the GENIUS Act on Monday, also known as the stablecoin bill, citing its potential to secure “American leadership” in digital assets.

Benzinga

Stock Market Today: Nasdaq 100 Futures Slip— Palo Alto, XP, Allarity Earnings In Focus (UPDATED)

Editor’s Note: The future prices of benchmark tracking ETFs were updated in the story

Benzinga

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Benzinga

Larry Summers Warns Scott Bessent: 'Unless We See A Recession,' You Shouldn't Be Prescribing A 175 Basis Point Cut In Interest Rates

Former Treasury Secretary Lawrence Summers criticized the current U.S. Treasury Secretary Scott Bessent for weighing too directly on the direction of interest rates, something he believes could blur the lines between fiscal and monetary polices.

Benzinga

Xi Jinping Is 'Difficult To Deal' With, Says Treasury Secretary; S&P 500 Earnings Beat, Chinese Stocks Jolt From Trump Moves — Weekly Economics Recap

Let’s take a look at some of the most significant stories that broke over the weekend, including the latest on China’s economy, the SP 500 earnings, and the impact of stablecoins on the U.S. dollar.

Benzinga

Scott Bessent Sees Nvidia-AMD China Deal As Blueprint, Facebook Users Claim $725 Million, Intel Surges On Trump Stake Buzz — Weekly Tech Recap

The weekend was a whirlwind of tech and market news. From a massive data privacy settlement for Meta Platforms (NASDAQ:META) to a unique revenue-sharing agreement between the U.S. government and chip giants, the stories were as diverse as they were impactful.

Benzinga

Bitcoin Climbs On Fed Rate Cut Hopes, Matt Gaetz Buys 'Digital Penguins,' Analyst Calls XRP 'Ideal' Entry — Weekly Crypto Recap

The past week in the crypto world was a mixed bag of events. Bitcoin (CRYPTO: BTC) saw a rise following the Federal Reserve Governor’s dovish comments on rate cuts, while altcoins pulled back. Meanwhile, former U.S. Representative Matt Gaetz made headlines with his purchase of Pudgy Penguins token and an…

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Fortune

Trump's unprecedented, potentially unconstitutional deal with Nvidia and AMD, explained: Alexander Hamilton would approve

Nvidia and AMD agreeing to give 15% of their China chips revenue back to the U.S. doesn't recall any deal ever struck by the U.S. government.

Benzinga

Cynthia Lummis Backs Scott Bessent's 'Commitment' To Build Bitcoin Reserve Without Burdening US Taxpayers — 'I Have A Bill For That'

Sen. Cynthia Lummis (R-Wyo.) on Thursday backed a “budget-neutral approach” to building a Strategic Bitcoin (CRYPTO: BTC) Reserve, opposing the idea of purchasing additional BTC to address the mounting national debt.

International Business Times

Japan Posts Modest Growth Despite US Tariffs

Japan eked out modest growth in the second quarter despite painful US tariffs, official data showed Friday, in welcome news to embattled Prime Minister Shigeru Ishiba.

Barchart

Stocks Close Mixed After Hot PPI Report

The S&P 500 Index ($SPX ) (SPY ) on Thursday rose +0.09%, the Dow Jones Industrials Index ($DOWI ) (DIA ) fell -0.02%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) was unchanged. September E-mini S&P futures (ESU25 ) fell -0.08%, and September E-mini Nasdaq futures (NQU25 ) fell...

Reason

Trump Administration Plans To Tax More American Companies on Overseas Sales

The president's revenue-sharing agreement on chip sales to China may pass legal muster, paving the way for effective export tariffs.

Al Jazeera

Trump administration sanctions two Mexican drug cartels, announces bounties

As part of its crackdown on gangs, the US Justice Department has offered $26m in rewards for Carteles Unidos leaders.

Barchart

Dollar Sees Support from Strong US PPI Report

The dollar index (DXY00 ) is up +0.26% as the strong US PPI report sparked a pull-back in expectations for Fed rate cuts in the coming months. In addition, San Francisco Fed President Mary Daly and St Louis Fed President Alberto Musalem today both threw cold water on the idea...

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