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 Treasury Pick Bessent Backs Fed Independence, Dollar, Sanctions on Russian Oil
WASHINGTON (Reuters) -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.
US Treasury nominee backs Fed independence, dollar, Russia sanctions
U.S. President-elect Donald Trump's nominee for Treasury secretary said on Thursday that the dollar should continue to be the world's
Yahoo Finance3d
Russia is on pace to run out of financial reserves by this fall, which would cripple war efforts, economist says
Russia could run out of liquid reserves as soon as this fall, one European economist has said. The nation's liquid reserves have dwindled to $31 billion, down from $117 billion in 2021. Limited ...
Jane's Information Group5d
Russia likely to deplete financial reserves by 2030 at present rate of government expenditure
Government spending increases have outstripped receipts, thus pushing the federal budget into deficit from 2022 onwards. Russia has financed the deficit in part using the liquid holdings of the ...
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.
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.
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The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system.
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.
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.
Scott Bessent faces bipartisan scrutiny in US Treasury confirmation hearing
U.S. Treasury nominee Scott Bessent on Thursday faced sharp questions from both Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the future of an IRS tax filing system that Republicans have called to be cut. And in turn, Bessent defended of President-elect Donald Trump's economic policies and proposals.