Trump Treasury pick Bessent backs Fed independence, dollar, sanctions on Russian oil
President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the Federal Reserve should stay independent, and that he is ready to impose tougher sanctions on Russia's oil sector.
Trump treasury pick Scott Bessent calls for stronger Russia sanctions, Fed independence at confirmation panel
Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.
Trump's treasury secretary pick says more Russia sanctions possible
US President-elect Donald Trump's pick for treasury secretary, Scott Bessent, took part in a confirmation hearing with lawmakers on Thursday. He said additional sanctions on Russia could be imposed to help end the war in Ukraine.
Federal Reserve withdraws from global regulatory climate change group
The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system.
Russia's elites say they are tired of waiting for the war to end: report
High-ranking sources told independent Russian outlet Meduza that Russia's elites are disappointed the Ukraine war didn't end in 2024 and feel fatigue.
Trump Can Make Russia Pay to Rebuild Ukraine
The West has frozen $300 billion of Moscow’s assets, but Europe has stood in the way of using them.
ThePrint4d
Oil prices hover near 4-month highs as Russia sanctions stay in focus
Oil prices eased on Tuesday but remained near four-month highs as the impact of fresh U.S. sanctions on Russian oil remained the market's main focus, ahead of U.S. inflation
Trump’s ambitious oil plans will not derail Russia
Donald Trump’s gleeful “Drill, baby, drill” pledge chimes with the idea of weaponising America’s status as the world’s largest oil producer to strip Russia of the oil revenues funding its war in Ukraine.
Trump Treasury pick Bessent backs US Fed independence, dollar, sanctions on Russian oil
Mr Scott Bessent is a hedge fund manager and founder of Key Square Capital Management. Read more at straitstimes.com.
World economy steady, IMF says
The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year. But it warned that the outlook is clouded by President-elect Donald Trump's promises to cut U.
As Presidend Biden warns of an 'oligarchy,' Donald Trump will be flanked by tech billionaires at his inauguration
The super-rich have long played a role in U.S. politics but have an unusually prominent spot in incoming President Donald Trump's new administration.
5 things the nominee for Treasury Secretary signaled about what markets can expect in a 2nd Trump term
Bessent said he believed Trump's presidency would help "unleash a new economic golden age," which could include more jobs and wealth for Americans.