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Headline: Treasury Secretary Reveals Trump's Frustrations with Federal Reserve Chair, Teases Imminent Fed Chair Announcement
Published 1 month, 2 weeks ago
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Treasury Secretary Scott Bessent revealed that President Donald Trump discusses the Federal Reserve with him every day, expressing strong dissatisfaction with Chair Jerome Powell. According to Cryptopolitan, Bessent shared this during an appearance on Kudlow, noting Trumps frustration both personally and with Powells leadership at the central bank. Powell faces a Department of Justice criminal investigation for allegedly misleading Congress about a major renovation at the Feds Washington headquarters. Bessent declined to defend Powell, saying he lacks expertise in construction and criticizing the Feds operations as needing substantial improvements and a thorough internal overhaul. He hopes the scandal will spur the long-called-for review, emphasizing the Feds impact on every American yet lack of accountability.
Bessent confirmed final interviews for a new Fed chair are complete, with Trump ruling out Kevin Hassett and planning an announcement in January, possibly around Davos. Cryptopolitan reports Trump has been methodical in his choices.
On Iran, HonestReporting states Bessent confirmed the United States is tracking tens of millions of dollars linked to Irans leadership moving out of the country into foreign banks. This follows sanctions-evasion via crypto networks tied to the Islamic Revolutionary Guard Corps and offshore accounts, signaling regime insiders concerns amid rising regional tensions, including United States Navy increases in the Persian Gulf.
MarketWatch reports Trump announced 10 percent tariffs on imports from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland starting February 1, escalating to 25 percent on June 1 unless Denmark sells Greenland to the United States. Bessent indicated the administration could use other authorities for tariff revenue if the Supreme Court rules against Trumps use of the International Emergency Economic Powers Act, with a decision possibly imminent. Markets showed anxiety, with the 10-year Treasury yield rising to 4.23 percent.
Bessent appeared on Meet the Press with Kristen Welker this Sunday, as announced by NBC News.
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Bessent confirmed final interviews for a new Fed chair are complete, with Trump ruling out Kevin Hassett and planning an announcement in January, possibly around Davos. Cryptopolitan reports Trump has been methodical in his choices.
On Iran, HonestReporting states Bessent confirmed the United States is tracking tens of millions of dollars linked to Irans leadership moving out of the country into foreign banks. This follows sanctions-evasion via crypto networks tied to the Islamic Revolutionary Guard Corps and offshore accounts, signaling regime insiders concerns amid rising regional tensions, including United States Navy increases in the Persian Gulf.
MarketWatch reports Trump announced 10 percent tariffs on imports from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland starting February 1, escalating to 25 percent on June 1 unless Denmark sells Greenland to the United States. Bessent indicated the administration could use other authorities for tariff revenue if the Supreme Court rules against Trumps use of the International Emergency Economic Powers Act, with a decision possibly imminent. Markets showed anxiety, with the 10-year Treasury yield rising to 4.23 percent.
Bessent appeared on Meet the Press with Kristen Welker this Sunday, as announced by NBC News.
Thank you for tuning in, listeners. Please subscribe for more updates. This has been a Quiet Please production, for more check out quietplease.ai.
For more http://www.quietplease.ai
Get the best deals https://amzn.to/3ODvOta
This content was created in partnership and with the help of Artificial Intelligence AI